Home Finance News PAX Dollar (USDP) First and Most Liquid Regulated Stablecoin Competing with USDT USDC and the rest

PAX Dollar (USDP) First and Most Liquid Regulated Stablecoin Competing with USDT USDC and the rest

Paxos is a blockchain infrastructure platform modernizing finance.  Paxos Standard is rebranded Pax Dollar USDP.  Paxos facilitates cryptocurrency for enterprises, cryptocurrency for investors, and settlement for institutions.

Paxos feels that USDC and USDT shouldn’t be considered to be regulated assets due to the nature of their reserves. Paxos are looking to emerge as the most legitimate player in the stable coin space so that big corporate clients choose Paxos as their preferred partner.

It is very obvious that USDP by speaking high about their regulated status are openly competing to flip the likes of USDT, USDC and other stable coins currently being used in the industry. They are probably planning to move lunches of all other stable coins to their table.

As the creators of the industry’s first and most liquid regulated stablecoin, Pax Dollar (USDP) Paxos has unique expertise in the market. Their white-labeled Stablecoin as a Service offering lets partners leverage that expertise to create their own stablecoins quickly and securely.

Paxos serves as the qualified custodian for USDP stablecoin, ensuring fiat assets are held 1:1 in dedicated omnibus cash accounts at FDIC-insured U.S. banks or in Treasury Bills. These balances are audited every month to validate 1:1 backing.

Paxos works with New York banking regulators to get formal approval for the issuance and usage of custom branded stablecoin. The Trust status and additional licenses enables Paxos to serve customers in all U.S. states and globally.

Paxos stablecoin platform is API-enabled to make technical integration simple. With an extensive library of endpoints, it’s easy to select the best options for customer experience.

The key applications for Stable Coin as a Service is with: Commercial banks providing for real-time account settlement between banking customers.  Payment processors, by accepting and settling consumer payments with little cost.  Global businesses by accepting US customers and dollar deposits without a US banking relationship.  Crypto exchanges, offering exchange-branded stablecoins to facilitate crypto trading and fiat on-ramps. Remittance companies by lowering cross-border fees and opening up new remittance corridors.

Allows users to settle transactions in real-time, 24/7, outside of traditional banking hours.  Permits fintech companies to use their branded stablecoin to facilitate payments for goods and services more efficiently with reduced FX friction and fees. Thus, creating greater utility on the platform by plugging to an open ecosystem. Permitting users to hold USD on platform without requiring a USD bank account.

 

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Steven Anderson

Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9

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