BITPAY INTEGRATES PAX STABLECOIN INTO A CRYPTO PAYMENT PLATFORM
Bitcoin payment platform BitPay will now allow payments using the Paxos Standard token (PAX), which he calls the “fastest growing stablecoin”.
Although BitPay had previously integrated a number of different cryptocurrencies into its platform, such a widespread stablecoin (the first of its kind, supported by the payment platform) has certain advantages, namely regulatory compliance and stable cost. Seeing that each PAX token is $ 1, merchants and customers can feel more comfortable holding a token instead of other cryptocurrencies, which are often subject to volatile price fluctuations.
The release commented little on the future plans of the new BitPay partnership, but the adoption of stablecoin is the logical next step. Stablecoins have recently attracted interest in space, more and more attempts to launch cryptocurrencies, which can successfully support snapping to Fiat.
Combining the most famous cryptocurrency trading platform with a fast-growing and well-regulated stablecoin is a profitable match that would ideally attract more traders and consumers to the platform now that they have a stable cryptocurrency for transactions.