Review on Paxos Standard by Robiul Islam
The team has been very guttural and assured regarding their project and there…
The team has been very guttural and assured regarding their project and there token, and this is to be hoped, but in fact the PAX token offers little that is creative in the blockchain space. Its real potency lies in the full USD backing and the backing of fundamental financial institutions. That alone should be enough to keep it from getting lost among other projects, particularly given the auditing and additional trust it will reach versus competing stablecoins.
Updated 5 years ago
Rating has not been changed
PAX can move even faster. May 13 they announce instant redemptions for PAX. PAX is the only crypto asset to offer this functionality, immediacy and level of confidence with no minimums, maximums or fees associated. Latest technological advancements make it possible for users to move with ease between USD and PAX.
Also a new feature on Paxos called Auto-Transfers. This makes it easier and faster to get PAX. When you’re able to get your PAX faster, you can then use it faster.
Pros
- PAXOS is a great Stablecoin. It's a completely regulated and transparent digital dollar. It's audited and regulated by top financial regulators you can't get more legit then that. The creation of Paxos was a pivot from an exchange platform to a company focused on creating a modern settlement platform using blockchain technology.
Cons
- Token allows user to convert digital assets to fiat currencies with no fees. Assets can be instantaneously converted from physical to digital and vice versa very rapidly. Each token is backed by the U.S. dollar, which is held in accounts in major U.S. banks and is insured by the Federal Deposit Insurance Corporation.
