Binance Exchange to List Paxos’ Gold-Backed Cryptocurrency
PAX Gold, a gold-backed digital asset created by Paxos, will soon launch for trading on Binance.
Paxos has raised $142 million to facilitate mainstream adoption. “We think that opportunity is now,” said CEO Charles Cascarilla.
Paxos has filed to become a federally regulated bank with the U.S. Office of the Comptroller of the Currency, joining BitPay and Anchorage.
Paxos’ stablecoin tokens have mainly been playing catch-up since the DeFi spike in 2020.
PayPal pumped excitement into the bitcoin market this year. And on the back-end of every purchase is Charles Cascarilla's Paxos.
PayPal officially confirmed Wednesday it is entering the cryptocurrency market. The payments giant, with 346 million active accounts around the world, pledged to make crypto “a funding source for purchases at its 26 million merchants worldwide.”