Paxos, which is an issuer of stablecoin, will reportedly form a partnership with Ontology. The joint initiative is specifically designed for the issuance of around 100 million of PAX tokens, which are said to be pegged 1:1 to the U.S. dollar. The issuance, in particular, will be made possible directly on the blockchain network of Ontology.
According to the latest news reports, Paxos will be issuing up to $100 million worth of its stablecoin, PAX, on the Ontology blockchain. This stablecoin is anchored to the dollar on a 1:1 ratio, and it will be launched on its new network next month.
According to an announcement that was published on April 25, the New York Attorney General’s Office has accused the cryptocurrency exchange Bitfinex of amassing $850 million in losses and then using funds from its affiliate stablecoin operator Tether to quietly cover up those losses.
In the latest cryptocurrency news, the payments platform called Wirex is making a huge move in the digital currency space. Apparently, it is going to launch a deluge of stablecoins directly on the Stellar blockchain network. Here is everything about it in a nutshell.
Japan’s very own bank (deemed to be the largest in terms of the total assets) SMBC or Sumitomo Mitsui Banking Corporation is expected to launch a blockchain-based trade finance services. The release of these services is slated in the second half of this year. Here is everything about it in a nutshell.
The New York State is witnessing a case that involves millions of Bitcoin, as well as Western Union payments. Interestingly, this is going to be the state’s very first conviction when it comes to crypto money laundering.
Chainalysis, which is a blockchain compliance startup, has just added new support. Basically, it has something to do with its real-time transaction monitoring tool, which will now cover four more digital currencies. Here is everything about it in a nutshell.