Paxos Launches World First Regulated Stablecoin, and It’s Ethereum-Based
Paxos, just like the Winklevoss Twins, just launched the world’s first regulated stablecoin. And, as a plus for Ethereum fans, both coins are Ethereum-based.[1]
In short:
- The new token (the Paxos Standard) is backed 1:1 by dollars, is meant to hold $1 in value, and is a Tether competitor.
- “Regulated” means approved by the New York State Department of Financial Services (NYDFS).
- The Winklevoss Twins’ stable coin also launched today at the same time. So they are both “world first regulated stablecoins.”
Article Citations
- Paxos ® Launches New Stablecoin, Paxos Standard™. Prnewswire.com.