What is Paxos Standard Token (PAX)? Paxos Standard Token is the first digital asset, which was produced by a financial entity (NYDFS) and supported by the U.S. dollar (1 PAX = 1 U.S. dollar). It was created as a new digital payment platform with a great ability of integration in any structure.
The current cryptocurrency is a classic ERC-20 token which was developed on the basis of another popular project Ethereum. It helped to decentralize the blockchain and improve the stability of crypto coins.
To sum up we can say that it is a crypto dollar approved by the government.
The Paxos Trust Company appeared in 2012. At the beginning of 2018, on the wave of hype around cryptocurrency technologies, the company’s management decided to create a personal blockchain project.
The crew of creators involves 8 people who prefer to conceal their future plans. The main idea is to make a bridge between a traditional financial system and digital economics of the future.
Paxos is a blockchain platform which contains the status of a regulated trust and the technologies of a distributed register DLT.
The creators’ team speaks about its blockchain platform very flatteringly. But in practice, there is nothing innovative. The main plus is that it is based on the legal financial institute.
Let’s say you want to buy Paxos Standard Token. What should you do? We suggest you go to the SimpleSwap homepage and follow the instructions below:
This is everything you need to know to buy PAX.