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Binance Exchange Is First Client for Paxos’ New Dollar Gateway

Regulated blockchain company Paxos has launched a product allowing crypto exchange customers to more easily fund their accounts with traditional money. With its new Fiat Gateway service, Paxos said Tuesday that users will be able to execute simple swaps between U.S. dollars and stablecoins, including the firm’s own Paxos Standard (PAX). Notably, Binance, the world’s largest cryptocurrency exchange by trading volume, will be the first to integrate the product. The firm will also have its stablecoin, …

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Paxos Wins SEC ‘No-Action’ Letter to Settle Equities on a Blockchain

Paxos is seeking to modernize the equities settlement process using a regulator-approved blockchain process. The U.S. Securities and Exchange Commission (SEC) granted Paxos Trust Company no-action relief Monday to settle equity securities trades on a blockchain platform for broker-dealers. Paxos announced that Credit Suisse and Société Générale would be the first two companies to utilize the new Paxos Settlement Service, which would operate on a private and permissioned network. As envisioned, the service will let …

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Paxos Launches Settlement Platform for Equity Securities After SEC Relief

Paxos Trust Company announced today that it is set to introduce its Paxos Settlement Service for a number of United States-listed equity securities. In an Oct. 28 press release, digital asset trust company Paxos stated that it is moving forward with the launch of its blockchain-based settlement platform, having received no-action relief from the U.S. Securities and Exchange Commission (SEC). The SEC letter indicated that the agency will not take any action against Paxos, which …

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Paxos Launches PAX Gold, Regulated and Redeemable for Physical Gold

Stablecoin operator Paxos launched PAX Gold (PAXG), a gold-backed Ethereum (ETH) token. Paxos announced the launch of the product above in a press release published on Sept. 5, claiming that it is “the first crypto-asset redeemable for physical gold.” Furthermore, the New York State Department of Financial Services (NYDFS) put forward their approval of the issuance in an official statement, defining it “first gold-backed virtual currency in New York state.” Per the report, each PAXG …

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Binance Launches Dollar-Backed Crypto Stablecoin With NYDFS Blessing

Crypto exchange Binance is launching a dollar-backed stablecoin in the U.S. Moreover, the new Binance USD (BUSD) has received the blessing of the New York Department of Financial Services (NYDFS). The exchange announced Thursday that NYDFS had approved the new offering, which Binance is launching in partnership with the Paxos Trust Company. The Binance stablecoin will be backed by U.S. dollars on a 1:1 ratio, according to a press release. The offering joins the Paxos Standard …

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