Paxos, the startup behind the Paxos Standard (PAX) stablecoin, said it has so far issued a total of $50 million-worth of the U.S. dollar-pegged cryptocurrency since its official launch last month.
Dorothy Jean Chang, vice president of marketing and communications for Paxos, announced in a tweet on Monday that in the month since the company rolled out PAX on Sept. 10, it had issued $36 million-worth of the stablecoin in exchange for U.S. dollar deposits.
"And now… we are over $50M already," the spokesperson added, hinting more than $14 million-worth of PAX could have been issued in just the past several days.
CoinDesk reported last month that Paxos launched PAX as one of the first stablecoins that was approved and backed by regulators, namely, the New York Department of Financial Services, in Paxos' case.
https://www.coindesk.com/paxos-claims-50-million-in-price-stable-cryptocurrency-issued-in-first-weeks/
