Stablecoin selection expanded ahead of Crypto.com Earn & Credit launch
HONG KONG, April 18, 2019 /PRNewswire/ -- Crypto.com, the pioneering payments and cryptocurrency platform, announced today that it has added Paxos Standard's PAX token to its Wallet & Card App, joining bitcoin (BTC), ether (ETH), Litecoin (LTC), Binance Coin (BNB), XRP, Enjin Coin (ENJ), Basic Attention Token (BAT), and its own MCO and CRO tokens.
PAX is a stablecoin developed by Paxos, a New York Trust charter company and financial institution regulated by the New York State Department of Financial Services. PAX is a digital dollar backed on a 1:1 basis by USD. PAX moves at the speed of the internet 24/7 and is designed specifically to provide cryptocurrency markets with stability and user confidence due to Paxos' regulated status. Since launch in September 2018, PAX has been rapidly adopted and has achieved more than $16 billion in transaction volume.
Kris Marszalek, Co-Founder and CEO of Crypto.com said: "Stablecoins play a critical role in the adoption of cryptocurrencies. We are thrilled to welcome PAX to the Crypto.com platform and look forward to working together on accelerating the world's transition to cryptocurrency."
Paxos is on a mission to modernize finance by mobilizing assets at the speed of the internet. Paxos is building a future where all assets—from money to commodities to securities—will be digitized and can move instantaneously, 24/7. Settlement risk will cease to exist, so trillions of dollars of trapped capital can go to work in a global, frictionless economy. Today, as the first regulated Trust company with blockchain expertise, Paxos is uniquely positioned to mobilize and custody assets digitally. Visit www.paxos.com for more information on Paxos and its institutional-grade products like PAX, the itBit crypto-asset exchange, OTC trading, Post-Trade services, and Custody. PAX and Paxos Standard are trademarks of Paxos Trust Company, LLC
Crypto.com was founded in 2016 to accelerate the world's transition to cryptocurrency. Key products include: the Crypto.com Wallet & Card App, the best place to buy, sell, and pay with crypto, the MCO Visa Card, a metal card with no annual fees, and the Crypto.com Chain, which enables users to pay and be paid in any crypto, anywhere, for free. Crypto.com is headquartered in Hong Kong with a 120+ strong team. For more information, please visit: www.crypto.com.