One of the most popular cryptocurrency exchanges in the world, Binance, is in the latest cryptocurrency news for its liquidity and plans to list Paxos Standard (PAX) as a base token and altcoin on its platform.
As the largest exchange in the world by its volume, Binance is in the process of creating a unified stablecoin market that is known as USDⓈ and it appears that in that market Paxos Standard will be a base token.
Currently, PAX is only trading against USDT in the market. However, according to a crypto press release that was published on Tuesday morning, other pairs will also be added to the exchange soon.
“When trading commences, PAX will have six trading pairs listed on Binance’s USDⓈ Markets against BNB, BTC, ETH, XRP, EOS and XLM.” the PR reads.
USDT is by far the most used stablecoin on Binance. However, it seems like the exchange is testing the waters for other token as well. The situation before the addition of the above-named pairs was that users would have to convert PAX to USDT in order to trade on most of the pairs in the new USDⓈ market listings.
Trading of the new PAX pairs should commence on the morning of November 29th. If the volume of the new pairs is significant enough, Binance will add more of them as it has done with Tether (USDT).
All in all, the creation of the USDⓈ Market on Binance also triggers some speculation that the exchange may be working on its own stablecoin offering. Historically, they have shied away from too much interaction with banking systems before releasing their own products and solutions for multiple cryptocurrencies.
BTC And Other Altcoins Push Trading Volumes To New Record Highs
Bitcoin Is Up Above $4,100 As Top 20 Cryptos See Green
Two Ohio-Based Companies Officially Paid Taxes With Cryptocurrency
“We will never accept won or renminbi or francs or cryptocurrency, or any other currency. You have to relieve your debts to the state of Ohio with U.S. dollars. That’s what we’re currently accepting. This platform just allows for that exchange, basically before that debt is settled to the state of Ohio.”Sprague pointed out that the treasury is reviewing how the program can be expanded and they are looking into the potential risks that can come up by using this method of tax payments. Ohio is working hard to attract blockchain-related businesses to the state. The state has already passed a law allowing businesses to pay taxes in crypto but the State Treasurer Josh Mandel stated that the legislation ‘’pants a flag’’ in Ohio regarding cryptocurrency adoption. Two days ago, the County Auditors’ Association of Ohio announced the gathering of a group that will work to explore the benefits of blockchain in real estate and transfer of land titles.
Samsung Confirms New Galaxy S10 Smartphone Will Have Built-In Crypto Wallet
Join us on Facebook
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Blockchain News2 days ago
Charity Branch Of Binance Launches Pilot Blockchain-Based School Lunch Program
Bitcoin News1 day ago
Brian Armstrong Believes Hot Wallets Are Good Enough To Store Bitcoin
Altcoin News4 days ago
Crypto Market Adds $10 Billion, Currently With $134bn. In Circulation
Altcoin News2 days ago
Crypto Trading Volumes Jump To 300-Day Highs Following The Bullish Market-Wide Run
Blockchain News1 day ago
Educational Certificates In Malta Will Be Stored On A Blockchain
Bitcoin News3 days ago
Samsung’s New Flagship Phone ‘Galaxy S10’ Comes With A Cryptocurrency Key Storage
Analysis4 days ago
Bitcoin Nearing $4,000: The Chances Of A Larger Breakout Are Increasing
Ethereum News4 days ago
Craig Wright Calls Out Ethereum For Being Unable To Scale