PAX Stablecoin Exceeds $5 Billion in Transactions in First 3 Months

U.S. dollar-backed stablecoin Paxos Standard (PAX) has exceeded $5 billion worth of transaction volumes, according to a press release shared with Cointelegraph Dec. 13.

As reported, PAX is an Ethereum (ETH) blockchain-based stablecoin, backed 1:1 by the U.S. dollar, which sealed regulatory approval from the New York State Department of Financial Services (NYDFS) in September.

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