Paxos and Binance are now partnering to make it faster and easier to fund your Binance trading account. We’re excited to announce a new integration with Binance which leverages the functionality of PAX to offer customers an efficient fiat funding mechanism on the world’s largest crypto exchange. Starting today, Binance customers can seamlessly convert US Dollars to PAX, which are then sent directly to their account at Binance. All of this happens automatically with just a few simple inputs from the user. Check it out here!
This is a meaningful and exciting development for Paxos and Binance. Together, we’re now able to offer the fastest and most efficient way to buy crypto with fiat currency. Once you have PAX in your Binance account, you can buy and sell any other crypto asset offered on the exchange by utilizing the PAX trading pairs. PAX is the most liquid, fully-collateralized stablecoin available on Binance – which means you can be confident that you’re executing at the best available price. On top of this, when you fund your Binance account using PAX, or redeem PAX back to your bank as USD, there are no fees, no limits, and instant processing.
At Paxos, our mission is to create a global, frictionless economy where digital assets can move freely at the speed of the internet. We’re working towards this mission with the approval and oversight of US regulators. We ensure all of our customer funds are held in FDIC-insured, bankruptcy-remote accounts, and that all personal information is secured with bank-level encryption. That’s why PAX is the preferred stablecoin of major financial institutions around the world. Our integration with Binance is yet another step towards reducing friction for crypto traders and instilling trust in the broader crypto industry.