Today we’re excited to announce 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. At Paxos, we believe money should move at the speed of the internet. The features we’re building into the Paxos Platform reduce friction and help create a more global economy for our customers.
It’s easy to get started with Auto-Transfers: Once you’re logged in to your Paxos account, designate an ethereum address where you’d like to automatically receive PAX. Then, every time you wire USD to your Paxos account, we’ll instantly convert it to PAX and send it to your designated address.
This feature is really useful if you often deposit USD and transfer it as PAX to the same address again and again. This functionality will save you from repetitive action and get you PAX faster. Take a read through our User Guide to learn how to enable this feature.
There’s more too — we’re also speeding up how quickly we can process your PAX requests. Before, we had windows of time each day when we would process requests for PAX. Soon, we’ll be able to send PAX within minutes for requests below a certain USD threshold. Requests above that threshold may require compliance checks.
We’re constantly working to improve the Paxos Platform. You can expect more updates to our product in the days and months to come.