Fresh off its partnership with PayPal, Paxos is making a new push into the decentralized finance market.
Crypto-wallet powerhouse Blockchain is adding a dollar-pegged stablecoin to attract more users.
Paxos is doubling down on a traditional approach to crypto custody and enabling instant stablecoin redemptions.
Ontology is to launch the Paxos Standard stablecoin, a regulated token backed by U.S. dollars, on its blockchain.
BitPay is integrating the Paxos Standard stablecoin into its services, allowing merchants to utilize the token to settle transactions.
The broader cryptocurrency market plummeted on Wednesday, but stablecoins in particular saw no shortage of buyers.
Buying bitcoin may be cheaper using a stablecoin the market has greater confidence in, like the Gemini dollar, than with an alternative like USDT.