A deep dive into the Paxos stablecoin ecosystem

Quick Take

  • Paxos launched the Paxos Standard (PAX) stablecoin in 2018
  • PAX has become a fast follower to the market leader of 2018 stablecoin cohort, USDC
  • One interesting strategy Paxos has deployed is white-labeling its stablecoin solutions to launch stablecoins with exchanges like Binance and Huobi
  • These partnerships have significantly boosted trading volumes and issuance in Paxos’ stablecoin ecosystem.
The Block has previously covered the growth of the four fiat-backed stablecoins launched in 2018 and the rise of USDC as a leading contender. Gunning for that position, as a fast follower, is Paxos, the New York-based crypto finance startup. Tied with Gemini USD as the last of the 2018 stablecoin cohort to announce their […]

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