The company claims to have over 36 million wallet users and will offer the stablecoin-based services to its users across 100 global markets.
Speaking to the public, Peter Smith, CEO of Blockchain, stated: “We’re putting a U.S. Dollar bank account in anyone’s pocket in any part of the world. For customers around the world, it will be a leap towards engaging in global commerce and liberating their finances from central authorities.”
Some info on Paxos (PAX)
PAX is a USD-pegged digital token, backed by USD in a 1:1 ratio. It was launched in September 2018 on Ethereum’s blockchain as an ERC-20 token, developers also recently launched the token on Ontology’s blockchain. PAX will have the same ticker on both blockchains.
Scott Simpson, Vice President of strategic partnerships at Paxos, said: “In bringing PAX to the Blockchain Wallet, we are creating a new way for millions of customers to purchase PAX on a 1:1 basis.”
He further expressed his pleasure that millions of people can now access PAX’s benefits through Blockchain.com.
Opportunity in the stablecoins market
Due to the recent Bitfinex and Tether case, a vacuum is being created in the market. Tether, the largest stablecoin, is losing credibility and other companies are seeing an opportunity to get a piece of the market. This makes Blockchain.com’s partnership with PAX more assuring.
