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USDP Price   

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USDP

Pax Dollar  

#USDP

USDP Price:
$1.00
Volume:
$276.1 K
All Time High:
$1.25
Market Cap:
$0.9 B


Circulating Supply:
916,440,516
Exchanges:
9
Total Supply:
925,848,073
Markets:
17
Max Supply:
Pairs:
16



  USDP PRICE


The price of #USDP today is $1.00 USD.

The lowest USDP price for this period was $0, the highest was $0.997, and the exact current price of one USDP crypto coin is $0.99717.

The all-time high USDP coin price was $1.25.

Use our custom price calculator to see the hypothetical price of USDP with market cap of BTC or other crypto coins.


  USDP OVERVIEW


The code for Pax Dollar is #USDP.

Pax Dollar is 4 years old.


  USDP MARKET CAP


The current market capitalization for Pax Dollar is $913,850,097.

Pax Dollar is ranked #52 out of all coins, by market cap (and other factors).


  USDP VOLUME


The trading volume is medium during the past 24 hours for #USDP.

Today's 24-hour trading volume across all exchanges for Pax Dollar is $276,115.


  USDP SUPPLY


The circulating supply of USDP is 916,440,516 coins, which is 99% of the total coin supply.


  USDP BLOCKCHAIN


USDP is a token on the Ethereum blockchain.


  USDP EXCHANGES


USDP is available on several crypto currency exchanges.

View #USDP trading pairs and crypto exchanges that currently support #USDP purchase.


  USDP RELATED


Note that there are multiple coins that share the code #USDP, and you can view them on our USDP disambiguation page.


  USDP RESOURCES


Websitewww.paxos.com/usdp
Whitepaperinsights.paxos.com/hubfs/USDP-whitepaper.pdf
Twitterpaxosglobal
Mediumhttp://www.paxos


  USDP DEVELOPER NEWS



Fueling the Growth of Enterprise Blockchain Products | Paxos

2020 was a year of uncertainty around the world, but Paxos has continued to grow and we have added 63 new team members. James Hartley, Director of Product Operations at Paxos, is one of those new hires. — Why did you join Paxos?. — I’ve always been interested in finance and investing, and more recently I became interested in blockchain. I left a career in tech after feeling burnt out, and spent a few months travelling and thinking about what I wanted next. I was looking for a few things, and Paxos ticked all the boxes:A small, talented team, based in NYA company using interesting, high-potential technologiesA strong culture aligned to my valuesAn inspiring mission and CEOA company that was rapidly shipping exciting productsWhat did you do before Paxos? — Why did you do before Paxos?. — With a computer science background, I started as a software engineer in Sydney building stock market surveillance software. But I wanted more exposure to the business and customers, which led me to technical services roles at Google working on advertiser platforms. I relocated with Google to New York to work alongside the product managers and engineers. Later I joined an 8 person startup in adtech (Arbor), where I did a bit of everything (product, account management, integrations, technical support, solutions consulting, etc). Right before Paxos I spent 3 years at LiveRamp (they acquired Arbor) leading technical services teams (solutions consulting, product operations, L1 support, and technical account management) as the company grew from 200 people to more than 1000. — What are your responsibilities at Paxos?. — I lead the product operations team to support many types of customers and many products. Our role is to bridge the gap between what the product can do and what customers need, making sure our customers’ funds (dollars, crypto, securities, etc) transact quickly, accurately, and safely, and keep the heart of the business beating. — What do you like about working at Paxos?. — The people are my #1 — smart, humble, friendly, and engaged. It’s also great to be part of a company that’s launching really exciting products, and full of challenging problems to solve. As a lifetime learner, I’d say the motivation to learn deeply about blockchain technology has been a great opportunity too. It’s been weird onboarding during a pandemic, so I really enjoy the happy hours — a virtual wine tasting, codenames online, etc — chances to get to know my colleagues as people and hear all the stories from before I joined! — What goals do you have for yourself here?. — I want to deeply understand the main blockchains (Bitcoin, Ethereum, etc), grow the people/products/process on the operations team, and contribute to making the global economy more accessible. I’ve traveled a lot and it’s always struck me how unfair it is that huge populations don’t have access to stable currencies, economic opportunities, and chances to build financial independence — hopefully Paxos can help change that! Paxos is a mission-driven company with a team of dedicated and passionate people who want to make a difference. We are expanding rapidly and looking to hire in all functions. Check out our blog to learn more about us and to see if there’s a role for you. Originally published at https://www.paxos.com on February 26, 2021. Fueling the Growth of Enterprise Blockchain Products | Paxos was originally published in Paxos on Medium, where people are continuing the conversation by highlighting and responding to this story.




Changing US Equities Markets with Blockchain Technology | Paxos

After recent market activity led to institutional and retail brokerages restricting trading on highly volatile stocks like GameStop, the systemic risks caused by the legacy system of equities settlement was exposed for all the market to see. That system must be updated to prevent future market failure and we’re building Paxos Settlement Service to solve this problem with blockchain technology. Today, our Managing Director for the securities business, Greg Lee is here to share his story. — What did you do before Paxos?. — For more than 20 years, I’ve worked in electronic trading for financial institutions like UBS, Deutsche Bank and Barclays. I’ve focused on building, selling, and managing electronic trading systems and platforms. I’ve been fortunate enough to work with some amazing people across the globe and have seen what technology can do to dramatically change markets. I was involved in some of the first FX online trading systems, first Equities online trading platforms. I’ve seen the industry evolve into a fully electronic and algorithmically driven marketplace — and I also lived through the dot com era and saw what unchecked technology aspirations can produce when they aren’t grounded in solid business practices. — What made you join Paxos?. — I know the ins and outs of the market and I felt it was time for a change. I was just looking for the right opportunity. I learned about Paxos through a connection to one of its board members — the former NYSE CEO Duncan Niederauer — and I felt this was a great opportunity to work on a piece of market infrastructure that is critically important to the system and desperately needs upgrading. I had spoken with many companies either trying to change settlements or change established markets, but these companies had very unrealistic expectations of what they could achieve quickly. When I met with Paxos CEO Charles Cascarilla, he had a vision that was unique, but more importantly, a very honest and realistic assessment of what it would take to achieve it. I knew I wanted to be part of building and growing an alternative system for settlement that was achievable. — What do you like about working at Paxos?. — The people. Across the firm, we have great people, but more importantly the team I work closely with is one that I actually enjoy coming to work with (or getting on video with these days!). Being in a group that works well together, enjoys each other’s company, and is working towards a shared vision is something most people don’t get to experience. It’s truly a unique opportunity to be involved with this group all trying to implement Chad’s vision. — What goals do you have for yourself here?. — For Paxos to be a well-recognized name in the industry and one that is seen to deliver real change and value to our clients. Being personally associated with this product and mission gives me great pride. Paxos is a mission-driven company with a team of dedicated and passionate people who want to make a difference. We are expanding rapidly and looking to hire in all functions. Check our blog to learn more about us and our openings to see if there’s a role for you. Originally published at https://www.paxos.com on February 10, 2021. Changing US Equities Markets with Blockchain Technology | Paxos was originally published in Paxos on Medium, where people are continuing the conversation by highlighting and responding to this story.




Full-Time Musician to Software Engineer: My Journey to Fintech | Paxos

As a financial technology firm, Paxos has an ambitious mission to bring technology and product innovation to the regulated financial services industry. We’re building the bridge to an open, 24/7 financial system. Cutting-edge tech and a great engineering team are key pieces to the success of Paxos. Today, our staff software engineer shares his non-conventional career path and why he works at Paxos. — Why did you join Paxos?. — I was looking for a job within the crypto industry when I met a few engineers from Paxos at a BitDevs event Paxos sponsored. I talked with a few of them and was immediately interested in how Paxos approached the cryptocurrency space. This was during the height of the ICO boom of 2017 and it was refreshing to see a company that wanted to be a pioneer in the cryptocurrency space while also taking regulation seriously. I was immediately impressed by the talent and friendliness of engineers I met at Paxos. — What was your work experience before Paxos?. — I have an untraditional engineering background. I first started coding when I was 12 but never received any formal training. I actually have an English degree and was touring in a band for a few years before focusing on engineering as a full-time career. — What are your day to day responsibilities at Paxos?. — As a staff engineer, a lot of my time is spent thinking about fellow engineers and the engineering organization as a whole. I do what I can to push forward best practices and encourage those around me to proactively find and solve problems within the organization. I actively mentor a few engineers and hope to inspire them in the same way that others have inspired me. I also act as a technical lead on certain projects which includes design and implementation of products. — What do you like about working at Paxos?. — We are an organization in constant change and everyone here feels a certain sense of ownership to improve Paxos as a whole. Everyone is extremely supportive, kind and willing to help others. — What goals do you have for yourself here?. — I want to help foster an engineering culture that supports growth and innovation. I believe that no matter how many years of experience you have, you can have an important impact on your team and even the company as a whole. I want the engineering team at Paxos to be known for its focus on excellence and to prove that even a small group of people can revolutionize an industry. A shared commitment to excellence is one of the core values at Paxos. If you are an engineer and want to be part of a brilliant team that promotes growth, collaboration and innovation, we are hiring! Check our to learn more. Originally published at https://www.paxos.com on January 29, 2021. Full-Time Musician to Software Engineer: My Journey to Fintech | Paxos was originally published in Paxos on Medium, where people are continuing the conversation by highlighting and responding to this story.




Building Products that can Revolutionize Financial Services | Paxos

In 2020, Paxos launched the Paxos Settlement Service, a blockchain-based network that allows two parties to bilaterally settle US listed securities trades directly with no intermediary. With the No-Action relief from the staff of the US SEC, Paxos is now for Credit Suisse, Instinet and Societe Generale settling listed equities. This is the first time that blockchain-enabled settlement is used in a live environment for publicly traded equities. Today, the Product Manager spearheading this innovation, , is here to share what it’s like to launch a groundbreaking product. — What are your day-to-day responsibilities at Paxos?. — I’m the product manager responsible for working on creating new settlement infrastructure for the securities industry — we call it our securities business line. Paxos is a product-led company and my role here spans across both strategic and tactical domains of building and launching products. I work closely with our leadership and business team to set business goals for Paxos Settlement Service and lead a squad of engineers to execute against a product roadmap to deliver on our goals. To scope our work, I also work with our customers to understand how our product will interact with their systems. Right now, the securities business is in the early adopter stage and we’re preparing for a big product launch which we hope will happen later in 2021. We’re currently finishing building product features needed in our next phase and hardening the system to maintain the highest levels of security and reliability. — What do you like about working at Paxos?. — I work with a dynamic team of extremely dedicated and talented business people, software engineers, and external clients & vendors. My role is to connect the dots to find creative solutions to introduce modern settlement infrastructure to legacy technologies and processes. I love the ambitious scope of our work and mission — I feel very lucky to be working on the introduction of new technologies at such a large scale that unlock cost, increase speed and improve efficiency for our clients. — What’s your professional background?. — Before Paxos, I started my career in financial services at Morgan Stanley, where I gained deep knowledge of institutional cash equities and fixed income trade flows. Then, I worked on large scale technology transformation projects at EY, consulting to some of the largest banks and broker dealers. This blend of experience gave me great insight into the securities industry and how technology could change it for the better. — What made you want to join Paxos?. — I had firsthand experience of the challenges facing the financial services industry — outdated systems can constrain the market, and cumbersome processes that make it overly complex. I believe new market infrastructure built with modern technology can unlock endless possibilities. Paxos’ mission is to create a global, frictionless and open economy . My personal philosophy is aligned with Paxos and I believe it’s the best positioned company to achieve a grand vision. — What goals do you have for yourself at Paxos?. — I want to continue growing as a product manager and grow the size of the product team in the securities business. 2021 is a really exciting year for securities — we are actively growing the team as we move closer to some large business milestones this year. It’s all very exciting and I want to play an impactful role in developing a product that can revolutionize financial markets. Paxos is hiring in all functions, and we’re looking for the best talent to change the financial industry. Originally published at https://www.paxos.com on January 15, 2021. Building Products that can Revolutionize Financial Services | Paxos was originally published in Paxos on Medium, where people are continuing the conversation by highlighting and responding to this story.




How I got to work on the exchange that powers PayPal’s crypto offering | Paxos

2020 has been a tremendous year for crypto, with prominent companies and investors jumping into the industry. is arguably one of the most important forces by making crypto available to millions of Americans. What’s it like to power such an exciting product? Paxos Engineering Manager is here to share his experience. — How did you learn about Paxos?. — I joined in 2018. I had started to get interested in blockchain and knew about Paxos from reading a lot about blockchain around the time people were exploring using it as a distributed ledger for various applications and, of course, the Bitcoin boom of 2016–2017 piqued my interest. I remember being really impressed with the . — Why did you join Paxos?. — I joined Paxos because I really liked the mission and what Paxos was building: a regulated, disruptive approach to creating efficiency in key financial workflows by writing them to a distributed ledger, i.e. blockchain. I was extremely impressed by the team that interviewed me: engineering, product and our CEO & Co-Founder Charles Cascarilla. Prior to joining Paxos, I had worked either in finance or in startup environments, but Paxos seemed to combine the two, along with cutting-edge technology and extreme attention to quality. I originally worked on the securities settlement platform but my role evolved as we grew. — What was your work experience before Paxos?. — I had about 15 years of engineering experience shifting from telecommunications to financial systems at Goldman Sachs to data analytics at Palantir. Over the years, I’ve contributed to a variety of products (mostly B2B) — from pre-packaged executables that get deployed every 6 months to systems that get deployed continuously. This allowed me to practice methodologies that ranged from waterfall to scrum. Over time, I realized I prefer agile, fast-paced environments with a B2B focus that present opportunities to make a significant impact. — What are your responsibilities at Paxos?. — I’m an Engineering Manager on the Custody team and I mostly manage the crypto exchange (aka itBit) , which was the crypto exchange in the US. There has been a lot of development on the exchange since I joined. Getting it to a scaled state where it can support large customers like and has been an exciting and rewarding journey. Paxos fosters a highly collaborative environment so we often work across teams to realize a product vision, like our work with , or . — What do you like about working at Paxos?. — Paxos is a product- and technology-driven company, which means we always debate the best practices and have thorough design reviews, working constantly to improve our software delivery and quality. As a regulated entity, Paxos emphasizes security and protection of our customer’s assets at every turn. Every engineer at Paxos makes an impact on the world. In addition, working on the exchange means I have high engagement with business development and customers, which is exciting! — What has been your favorite experience at Paxos?. — We’ve launched many products, from to crypto brokerage, but due to recency bias my favorite moment is when PayPal users started buying crypto thanks to our platform! Launching that partnership was truly a cross-team, cross-functional effort. I enjoyed collaborating and discovering the immense resourcefulness and talent that resides in the engineering team. And that’s all in addition to the other teams I work with, like product, marketing and business teams. I still get friends telling me they’re now buying bitcoin on PayPal for the first time, and that’s probably the most impact I’ve ever made in my career. If you’re an aspiring engineer who wants to make an impact on the financial system, we’re ! To understand more about Paxos culture, you can read about other team members via our spotlight series — from Compliance Officer to Deputy General Counsel . Originally published at https://www.paxos.com on December 18, 2020. How I got to work on the exchange that powers PayPal’s crypto offering | Paxos was originally published in Paxos on Medium, where people are continuing the conversation by highlighting and responding to this story.




From a Federal Government Agency to Fintech — Practicing Law in the Emerging Blockchain Industry |…

From a Federal Government Agency to Fintech — Practicing Law in the Emerging Blockchain Industry | Paxos In the last Paxos Employee Spotlight, Paxos Compliance Officer shared why he joined Paxos and his responsibilities here. Today, we invite our Deputy General Counsel Emily Meyers to talk about her journey to Paxos. Emily has previously worked at an international law firm, a federal government enforcement agency, and the highly-valued and fast-growing startup WeWork, all after receiving her JD from Columbia University and BA from Brown University. — How did you learn about Paxos?. — When our general counsel reached out to me on LinkedIn, I wasn’t sure if a blockchain technology company was right for me. I knew little about digital assets at the time. My wife urged me to learn more, and as I got to meet more members of the Paxos team, I understood how I could be an asset to the company from day one, even without deep blockchain expertise. — Why did you join Paxos?. — I was first hooked by our audacious mission — to digitize the world’s assets. Add in innovative, hardworking and inspiring teammates, and ample opportunities to solve challenging and nuanced problems in a burgeoning industry — it made the opportunity too good to pass up. — What are your responsibilities at Paxos?. — I support all aspects of the business, helping the company to grow, mitigating risk, and solving problems. That includes everything from negotiating deals with new clients, to developing strategy to engage regulators around the world, to ensuring that we comply with all of our regulatory obligations. — What do you like about working at Paxos?. — Working in emerging fintech means that our products and services are constantly improving, and the regulatory landscape in which we operate is constantly evolving. It’s thrilling to meet the challenge of navigating that landscape every day. — What has been your favorite experience at Paxos?. — My favorite thing about Paxos is the way that we come together as a team to make things happen. Last spring, just four weeks into working remotely while the pandemic was raging, the team culminated a major initiative for our crypto currency exchange platform. Working from both New York and Singapore, with representatives from every function across the company, the team coordinated seamlessly and successfully launched the revamped product. It made me proud that even when we are not physically in the office, we have a strong culture of collaboration and excellence that supersedes any challenge. If you’d like to join a fast-growing fintech company that is modernizing the financial system, . Originally published at https://www.paxos.com on December 4, 2020. From a Federal Government Agency to Fintech — Practicing Law in the Emerging Blockchain Industry |… was originally published in Paxos on Medium, where people are continuing the conversation by highlighting and responding to this story.




Compliance at a Groundbreaking Fintech Firm | Paxos

What is Paxos and what do we do? From the news, you might know we power crypto for PayPal, are facilitating U.S listed equities settlement for Credit Suisse, Instinet and Societe Generale, or that we power USD-backed stablecoins for Binance and Huobi. But Paxos is much more than the headlines we make. We want to give you an inside look on what it’s like to work at a market-leading fintech. Get a better sense of who we are by meeting our people. Here’s a Compliance Officer that is responsible for ensuring our products remain safe and trusted. How did you learn about Paxos? A colleague from a previous firm had joined Paxos in early 2017 and told me about the company mission. I was interested in Paxos’ regulatory status balanced with its dedication to fintech innovation. At the time, I was following the crypto world and I was jealous my colleague was getting hands-on blockchain industry experience while I was relegated to just personal crypto trading and reading online articles. We continued to keep in touch and I later made the jump to join him at Paxos. Why did you join Paxos? There was a significant pull factor — I wanted to join a team that was truly making an impact on the world with real innovations. I was bitten by the blockchain bug in 2015 and thought this was a once-in-a-century inflection point for a major paradigm shift. I sensed the same passion from Paxos employees. What was your past work experience? Prior to Paxos, I worked at a Big 4 accounting firm for 6 years, focusing on anti-fraud/financial crime compliance consulting engagements. I was in the Fraud Investigations unit and did a blend of advisory work on AML/Sanctions compliance, as well as actual internal investigations for companies. I worked on and managed both small and large scale engagements for nearly all the major financial institutions, doing a mix of investigations, remediations, assessments, and look-backs. The work was mostly reactive and we helped financial institutions enhance their compliance programs through our findings and recommendations. What are your responsibilities at Paxos? I manage the day-to-day team processes covering all aspects of Compliance. I also work to design and enhance our internal compliance system logic in tandem with external vendors and our Product team. A lot of nights, I go to bed thinking about future threshold tuning and model validations to continuously enhance our Compliance processes. What do you like about working at Paxos? Everyone is very smart and passionate, so no challenge is insurmountable. We take action and make decisions quickly at Paxos — this is a place where people get things done. I also like that we’re driven by key objectives so teammates are always unified in reaching the same goals. Because of the speed at which we move, I have the sense that one year at Paxos is equivalent to three years at a traditional institution based on how much people can learn, grow, and execute. What has been your favorite experience at Paxos? The entire design and launch process of our stablecoin Paxos Standard (PAX) in mid-2018 is very memorable. Paxos created an entirely new product in the span of a few months. From a compliance perspective, we re-designed and launched a whole new set of systems for customer onboarding, sanctions screening, and transaction monitoring. It felt like you were truly surrounded by friends and you were doing something that had never been done before. We’ve since launched many new products, but this was my first experience with a major product launch. I’ll never forget it. We hope Ed’s experience has shed some light on Paxos. Stay tuned, more stories to come! Originally published at https://www.paxos.com on November 19, 2020.




Move Fast and Don’t Break Things: Product Management in the Regulated Financial Services Industry

Paxos occupies a unique position in the financial services industry as a regulated financial institution that is also technology focused. As a regulated Trust company that is tech-native, Paxos can connect the traditional financial services and blockchain technology worlds in ways where most other companies are unauthorized to do so. But with this status come challenges — especially as it relates to product management. A product manager’s job is to set a direction for the business while also connecting customer needs with technology capabilities. However, product management at a regulated company adds a third factor to this calculus — the regulatory status of the product. Here are a few of the tactics I’ve employed to operate in this multi-layered environment that can help PMs facing similar business challenges when working in financial services or other regulated industries. Financial Services is one of the most highly regulated industries globally. Unlike Airbnb and Uber that “ask for forgiveness” after blitz-scaling in lightly-regulated markets, Paxos “asks for permission” before entering new markets and introducing new products. Many of our customers are regulated and we believe we can better serve their needs if we operate within their regulatory frameworks. As a product manager, this approach has implications for designing and developing new products and features. At the outset of design, product managers must have a keen understanding of the regulatory frameworks that apply to their product and must maintain a clear focus on compliance as the product strategy takes shape. It’s not enough to work with a compliance department and lean on them completely for guidance as this often leads to unintended tension in the relationship and push back on the product. Rather, product managers must embrace and respect the consumer-focused purpose of regulation and work hand-in-hand with compliance to deeply understand the white space available for exploration. This leads to stronger, more creative and innovative outcomes. For new products that require regulatory approval prior to launch, it’s important to have a clear idea of the major features and functionality needed to be successful very early in the product development process. The primary reason is that, contrary to the minimum viable product approach popularized in The Lean Startup, a product’s regulatory status places a limitation on the improvements a team can make. As a result, it’s important that any submitted product applications address the capabilities and use cases needed for a successful product. For existing products that do not require additional regulatory approval, it’s important to ensure that any major new features fit within the existing regulatory framework. One efficient way to ensure all teams are thinking with a compliance mindset is to build a flow diagram as part of the design for a major new feature and review this diagram with compliance, business and engineering stakeholders. This ensures PMs are validating the value this feature provides the customer, the tech build required, and the feature’s fit within the existing regulatory framework with the same assumptions and information. It can be helpful to think of new regulations and how they impact product management as a pipeline. Similar to a large commercial relationship with a major new partner, getting a new regulatory approval can take time. When starting the quarterly goal setting process, it’s important to identify the current and target status of any regulatory applications that have been or will be submitted in the near future. This point of view should inform the extent to which the team prioritizes launching a new product vs. improving existing products vs. building the platform or validating new product hypotheses to facilitate product launches in a subsequent quarter. Again, like a large commercial partnership, it’s hard to predict exactly if or when a regulatory application will be approved. However, when this does happen, it’s important to move quickly as a regulatory approval can create a window of opportunity for a company to distribute a unique product to its target market. In practice, this means that product managers must be willing to de-prioritize existing quarterly goals in order to get a recently approved product to market as quickly and effectively as possible. A few tactics product managers can use to manage this ambiguity are completing some product development work during the regulatory application process and “keeping some slack” in the roadmap if there’s a high probability that an application could be approved by the regulator in the near future. In closing, these tactics have helped ensure the Paxos product team strikes the right balance of doing what’s best for the company today, setting the stage for the products we want to build tomorrow and ensuring we maintain our trusted brand in a fast-changing market and regulatory environment. Originally published at https://medium.com on January 8, 2020.




New Maker Rebates for ETH Trades on itBit

We’re excited to share that on itBit, the Paxos exchange, itBit customers will now begin receiving 3.5 bps rebates of the notional value on all confirmed ETH maker trades. We are thrilled to offer even more to our customers on top of the most competitive taker rates available and plan to continue providing the highest quality services in the industry. All ETH maker rebates will be credited to the customer’s fiat balance(non-ETH maker orders will remain free and not receive any rebate). Our industry-leading, low taker rates will remain the same, structured in tiers based on 30-day rolling volumes. At itBit, user trading volume is aggregated by fiat base currency, BTC/USD and ETH/USD trades count towards the aggregated USD tier, and BTC/EUR and ETH/EUR count separately towards the aggregated EUR tier. Click here to learn more about itBit’s fee structure. Originally published at www.itbit.com. New Maker Rebates for ETH Trades on itBit was originally published in Paxos on Medium, where people are continuing the conversation by highlighting and responding to this story.




  USDP NEWS


Wazirx Follows in Binance's Footsteps Unlisting USDC, USDP and TUSD

    On September 19, WazirX, one of India's leading cryptocurrency exchanges, announced the delisting of Circle's USDC, Paxos' USDP, and TrueUSD (TUSD) stablecoins, effective September 26, following in Binance's footsteps. According to the statement, USDC, USDP, and TUSD deposits have already been suspended. In addition, users will have to withdraw their funds by October 05, or they will be automatically converted to BUSD —just like Binance did. 'Auto-conversion will be done on or before October 05. After the Auto-Conversion is completed, users will be able to withdraw USDC, USDP, or TUSD at a ratio of 1:1 from their BUSD balances.' Tether's USDT will still be supported. WazirX's Goal Is 'To Enhance Liquidity And Capital Efficiency' According to WazirX, the delisting of USDC, USDP, and TUSD, seeks to enhance liquidity and capital efficiency for users, a claim identical to what Binance made recently when it delisted the same stablecoins. Like Binance, WazirX ended its statement by indicating that it could include other significant stablecoins. However, the exchange did not provide further information in this regard. The relationship between Binance and WazirX is tricky. On its official site, WazirX claims it is affiliated with the Binance group, so the decision could be in line with Binance's interests to make BUSD one of the most important stablecoins in the ecosystem, increasing its market capitalization, which is currently around $20.52B. However, as CryptoPotato recently... read More



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