New York-based USD pegged stablecoin called paxos standard token (PAX) has entered into the partnership with a popular and widely-used bitcoin wallet BitPay, according to the company’s press release.
Thus, the paxos standard token (PAX) will now be integrated with BitPay as an option for settlement. The opportunity to settle in PAX will be available to a global list of BitPay merchants. This development will give businesses and merchants access the stablecoin, which is a digital equivalent of the dollar.
It is expected that the partnership with Paxos will bring benefits to BitPay because PAX is a registered stablecoin whose issuance is approved by the New York State Department Financial Services.
Earlier it was reported that the paxos standard token (PAX) was listed by several big cryptocurrency exchanges including Huobi Exchange, Cobinhood, OKEx, and Gemini.
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