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:

  1. The new token (the Paxos Standard) is backed 1:1 by dollars, is meant to hold $1 in value, and is a Tether competitor.
  2. “Regulated” means approved by the New York State Department of Financial Services (NYDFS).
  3. The Winklevoss Twins’ stable coin also launched today at the same time. So they are both “world first regulated stablecoins.”
Article Citations
  1. Paxos ® Launches New Stablecoin, Paxos Standard™.

Author: Thomas DeMichele

Thomas DeMichele has been working in the cryptocurrency information space since 2015 when was created. He has contributed to MakerDAO, Alpha Bot (the number one crypto bot on Discord),...

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