Paxos Says $50 Million in Price-Stable Cryptocurrency Issued So Far

Paxos, the startup behind the Paxos Standard (PAX) stablecoin, said it has so far issued a total of $50 million-worth of the U.S. dollar-pegged cryptocurrency since its official launch last month.

Dorothy Jean Chang, vice president of marketing and communications for Paxos, announced in a tweet on Monday that in the month since the company rolled out PAX on Sept. 10, it had issued $36 million-worth of the stablecoin in exchange for U.S. dollar deposits.

“And now… we are over $50M already,” the spokesperson added, hinting more than $14 million-worth of PAX could have been issued in just the past several days.

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