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According to an announcement, the Web3 and crypto firm Transak listed Paypal’s stablecoin, paypal usd (PYUSD), on its platform. This integration allows users to purchase PYUSD using various local payment methods, aiming to simplify the transition to cryptocurrencies. PYUSD Listed on Transak, Aiming to Ease Defi Transition Transak, a Web3 payments infrastructure provider, has added … Read more
Six days ago, a few hours before the blockchain infrastructure platform Paxos announced it would no longer mint BUSD stablecoins, $2.86 billion worth of BUSD were redeemed. Currently, Binance is the most active exchange trading BUSD tokens, and the stablecoin still commands roughly 10.7% of the crypto economy’s $67.71 billion in global trade volume over … Read more
Before Paxos published a press release at 6 a.m. Eastern time Monday, the stablecoin BUSD had approximately 16.16 billion tokens in circulation. In the past eight hours, nearly $290 million has been redeemed, bringing the number of BUSD in circulation to 15.87 billion. Stablecoin BUSD Sees Increased Redemption Activity During Regulatory Scrutiny The stablecoin BUSD … Read more
According to a report published on Feb. 12, 2023, the New York-based financial institution and technology company, Paxos, has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) regarding alleged violations of investor protection laws. Paxos revealed the following day that it would no longer mint BUSD and it was ending its … Read more
In mid-August, or 68 days ago, the market capitalization of the stablecoin BUSD was approximately $17.7 billion and since then, its grown 22.88% higher to today’s $21.78 billion. BUSD’s growth comes at a time when the market valuations of the top two stablecoins tether and usd coin have shed some excess weight. While Tether and … Read more
Payments giant Mastercard has introduced a new program called Crypto Source to enable financial institutions to offer crypto trading and other related services to their customers. Mastercard has partnered with Paxos Trust Company to support this program. A Mastercard executive says that crypto is on the “cusp of really going mainstream.” Mastercard to Help Banks … Read more
15 months ago the price of one ounce of fine gold was $1,790 per ounce and since then, it has increased in value 3.51% to today’s $1,853 per ounce exchange rate. While gold has risen in value, the top two tokenized gold coins have grown significantly since then. Pax gold (PAXG), for instance, has seen … Read more
While gold tapped an all-time high (ATH) this year surpassing $2K per ounce, the top tokenized gold crypto assets by market valuation continue to see significant demand, premiums, and market capitalization growth. For instance, Paxos Trust Company’s PAXG market cap jumped more than 43% in 31 days from $424 million to today’s $611 million. PAXG … Read more
British digital bank Revolut said Wednesday that it will start offering its cryptocurrency trading services in the U.S. Users in 49 U.S. states, excluding Tennesee, can now buy and sell bitcoin (BTC) and ethereum (ETH) through the Revolut app, it said. They can also store their digital assets in the app and cash out instantly. … Read more
