Paxos Standard Token (PAX) has committed transactions worth more than $10 bln since its launch on September 10, according to the post made in Twitter.
PAX is a stablecoin of the US dollar issued by the Paxos Trust Company. The total PAX emission equals $394 mln. According to SludgeFeed, Paxos currently has weekly transactions of about $580 mln.
“When it comes to stablecoins, the transactional volume is more important than market cap because it shows real usage, confidence, adoption, and liquidity, which gives buyers and sellers more options. Since launching PAX, the stablecoin has consistently been at the top of volume charts, indicating that PAX is the king of stablecoins,”
— Paxos team boldly expresses their achievements.
Paxos is fully regulated by the state of New York, and the Paxos Trust Company is licensed by the SEC. To date, PAX ranks 40th in terms of capitalization among all cryptocurrencies and takes the fourth place among the stablecoins.
Image courtesy of Paxos Medium Blog