Paxos Standard (PAX) is a stable coin that allows users to exchange US dollars for Paxos Standard Tokens to 'transact at the speed of the internet'. It aims to meld the stability of the dollar with blockchain technology.
Today, Paxos Standard can be used to limit exposure to crypto-asset volatility, to remove cross-border transaction fees and to move between crypto-assets with ease or as payment for other blockchain-based assets.
Deposit and/or withdrawal of PAX on Bitfinex is limited to KYC verified customers (at least Intermediate level).
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