Thursday , April 22 2021

Paxos will issue up to $ 100 million from Stablecoins on Ontological Blocks

The Stablecoin Paxos publisher will issue up to 100 million tokens for PAX, fixed 1: 1 to the US dollar, in the ontological network next month.

The launch will make it easier for individuals and businesses using the ontological ONT token for fixed token transactions, Ontology reported on Friday.

Paxos Standard (PAKS) is a regulated Stabilized with US dollars and was launched in September last year. It is currently only available on the edema block like an ERC-20 token, but now there will be a second option.

The new version of PAX will have the same symbol of the symbol and will follow the standard token of the OP-4 on the Ontology blockchain.

Ontology Co-ordinator Andy Ji said:

"The launch of PAX in the Ontology Blockchain will greatly accelerate the ontology's actual business applications, create more success stories for traditional businesses that switch to distributed businesses, and provide enterprise partners and institutional investors with a regulated, secure, and secure transition to the world of digital assets ".

The announcement comes in the heels of the New York lawyer's claim that the exchange of Bitfinex, which is shared by managers and owners with a stable publisher Tether, lost $ 850m from corporate and client funds, and then used the reserves of Teter to secretly cover the deficiency.

The ontology emphasized that unlike Tether, PAX provides an open audit and all its deposits in US dollars are stored in independent accounts in Federal Insurance Insurance Banks in the United States.

Shanghai-based ontology started the public blockbus network last June, in order to provide a high volume of fast and inexpensive transactions.

Pax pictures via Shutterstock

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