Several important events have shaped the trajectory of the Pax Dollar (USDP) recently. It began with pricing aggregators affecting Pax Dollar's pegging value, causing it to depeg temporarily. Paxos, the issuer, addressed the issue and introduced new ways to mint and redeem its stablecoins. The same company further expanded its reach by launching on the Solana (SOL) blockchain.
Paxos also unveiled its yield-generating stablecoin, the Lift Dollar, adding more diversity to its product offerings. Its strategic partnership with Mercado Libre opened access to Pax Dollar for Mexican Customers, with a new USD-pegged stablecoin launched in Brazil.
Paxos has gained significant regulatory approval, notably from Singapore for its stablecoin issuance. It has also adopted Chainlink’s PayPal USD Price Feed to accelerate Tokenized RWA Economy.
Pax Dollar has come under scrutiny with an investigation from New York's Department of Financial Services (NYDFS). The criticism also extends to Paxos' decision to stop minting Binance's BUSD stablecoin and resulting conflicts within the crypto industry. Despite these challenges, the Pax Dollar has remained resilient, distinguished from other stablecoins for its transparency and strong market rating by S&P.
Pax Dollar News Analytics from Tue, 16 Oct 2018 07:00:00 GMT to Thu, 22 Aug 2024 07:00:00 GMT - Rating -1 - Innovation 7 - Information 6 - Rumor -4