PAX is a digital dollar we built so money can move fast. Now, PAX can move even faster. We’re pleased to 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. This development comes because of our commitment to offering the most reliable, regulated and protected digital dollar to our customers. Our latest technological advancements make it possible for our users to move with ease between USD and PAX ensuring they have access to their own assets in the form they need – whether for convenience or peace of mind.
Paxos created the Paxos Standard (PAX) stablecoin to bring together the stability of USD and the efficiency of blockchain technology. 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. (Immediate creations coming soon!) This means whenever you deposit PAX on the Paxos platform, it is immediately available as USD. For that reason, there will no longer be any distinction between your USD or PAX balance on Paxos; all will be held as one, unified USD balance on our platform, and available 24/7 to send as either USD or PAX. Transact at the speed of the internet, unlike ever before.
And we’re bringing this to you within a new platform experience that lays the foundation for the future of our company. It offers a scalable architecture that not only brings our PAX and itBit products closer together, but also makes way for us to add more assets, offerings and integrations that will change how you use digital assets well into the future. With today’s news, we’re a step closer towards building the platform that will power the future of finance.
Take a glimpse at the new Paxos and get insight into how we’re envisioning a global, frictionless economy.