Paxos customers will be able to redeem their funds in USD and convert their BUSD tokens to another Paxos-issued stablecoin, Pax Dollar.
on Feb. 13 that the firm will end its relationship with Binance for the branded USD-pegged stablecoin BUSD.
Paxos emphasized that all existing BUSD tokens will remain fully-backed and redeemable through Paxos Trust Company through “at least February 2024.” Customers will be able to redeem their funds in USD and convert their BUSD tokens to another Paxos-issued stablecoin, Pax Dollar , the firm stated, adding:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Breaking: Paxos to face SEC lawsuit over Binance USD — ReportThe Securities and Exchange Commission has alleged that Binance USD is an unregistered security, and is planning to sue Paxos over the issuing or listing of the coin.
Read more »
Breaking: Paxos facing SEC lawsuit over Binance USD — ReportThe Securities and Exchange Commission reportedly plans to sue Paxos over its issuance of Binance USD, alleging that the stablecoin is an unregistered security.
Read more »
Breaking: Paxos reportedly ordered to stop issuing Binance USDNew York-based blockchain company Paxos Trust Co. is ordered to stop issuing Binance USD, or BUSD, by regulators —shortly after a lawsuit threat by SEC.
Read more »
Paxos to Stop Issuing Dollar-Pegged Token BUSD$BUSD is already losing its $1 peg following the halting of issuance operations announced by Paxos
Read more »