The company behind the Standard () announced that its users can now instantaneously redeem unlimited amounts of its for . The development was described in a blog post on May 13.
Per the announcement, every PAX deposited on the company’s platform can now be immediately sent as USD to a account without minimal redemption requirements or fees for deposits or withdrawals. The company claims:
“We launched PAX with a 1 day redemption window, which was groundbreaking. Then we moved to four-hour windows. Now, we’re setting precedence again by offering immediate redemptions today. ”
The company’s new platform reportedly shows PAX and USD as one single balance shown in USD, motivated by the company’s vision of its as the digital dollar.
As Cointelegraph at the end of April, enterprise platform Ontology () plans to launch a version of the regulated USD-backed stablecoin Paxos Standard on its own .
At the beginning of May, Bloomberg that social networking giant is hiring staff ahead of its alleged launch, which will likely be a stablecoin.
Published at Mon, 13 May 2019 18:03:32 +0000
