Paxos Standard (PAX) is now available on Bittrex

31 Oct, 2018
by David Robb
Paxos Standard (PAX) is now available on Bittrex

Leading crypto exchange Bittrex has added support for new stablecoin Paxos Standard (PAX). The fiat-backed token is now listed on the exchange, and trading should start soon.

Interest in stablecoins other than Tether (USDT) has grown recently, as the leading fiat-backed token by market cap saw some significant price fluctutations in the wake of rumors about the solvency of the Tether Foundation. On some exchanges USDT had fallen to as low as 16 cents below its US dollar peg.

Read more: What's going on with Tether? Trading as low as $0,86, 'a lot of volatility ahead'

Shortly before USDT's troubles, the Paxos Standard token (PAX) was launched, as was the Winklevoss Twins' fiat-backed Gemini dollar (GUSD). The Huobi and OKEx exchanges recently added both these stablecoins along with True USD (TUSD) and USD Coin (USDC).

Read more: Huobi adding support for four new stablecoinsDay of the stablecoin: OKEx lists four fiat-backed tokens

Paxos Standard currently has a total market cap of around $108 million, placing it 60th in the overall crypto rankings.

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