BITPAY ANNOUNCED SUPPORT FOR STABLECOIN PAXOS

BitPay has started cooperation with CryptoStream Paxos which is developing eponymous stablecoin. This was reported in the startup blog.

In the opinion of the members of the partnership, “stablecoin” PAX will expand opportunities for clients BitPay. The latter will be able to conduct transactions, provided  with “stability and confidence in the US dollar.”

Previously, merchants could work with Bitcoin and Bitcoin Cash cryptocurrencies through BitPay processing. In October, representatives of the service have announced support of USD coin and  Gemini dollar stablecoins.

According to CEO and co-founder Stephen Pair, PAX support will further expand opportunities for low transaction cost settlements.

Vice President of the company Dorothy Chang is sure that the new option will be of interest primarily to traders. However, she has no doubt that this tool will also be of interest to merchants.

Recall, the Paxos standard token was presented in September. According to representatives of the project, the asset has received approval from the authorities of the state of New York, and its turnover is regulated by the financial services Department of New York.

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