Stablecoin issuer Paxos Trust Company has announced it has conducted over half and million trades totaling more than $1 trillion through its Paxos Post-Trade service offering.
According to the official press release, Paxos has also expanded its product platform to now offer a Settlement Affirmation service that auto-verifies details including netted payment and delivery amounts and standard settlement instructions (SSIs) with counterparties.
Product Director for Post-Trade, Alex Long, claims the company provides this service for hundreds of unique counterparty pairs, for "more than 125 asset types in 16 countries and across all continents."
"We've introduced the platform to players across the commodities, FX and energy markets, and we expect to accelerate the growth of this business into next year," Long added.
Earlier this year, Binance, the world's largest crypto exchange by adjusted trading volume, and digital asset company Trust Paxos launched a new gateway that allows deposits in fiat money on the trading platform of the exchange.
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