Binance, the world’s largest cryptocurrency exchange by volume, and Paxos, the first regulated Trust company for digital assets, today announced a partnership to integrate a new deposit gateway on Binance.com. The portal will allow traders to exchange fiat directly for PAX on the Paxos platform and benefit from the stablecoin’s liquidity on the Binance exchange.
With a Paxos portal now incorporated as a fiat gateway into the Binance.com experience, customers can wire fiat to the Paxos platform, and receive the same amount in PAX directly in their Binance accounts.
PAX is the most liquid, fully-backed stablecoin available on Binance – that means PAX users benefit from optimal price discovery. On top of this, when you create or redeem PAX, there are no fees, no minimums or maximums, and instant processing.
Binance CEO, CZ (Changpeng Zhao), stated, “PAX is a liquid, fully-backed stablecoin available on Binance.com. Easing the PAX gateway on Binance.com means traders will benefit from the liquidity of PAX trading pairs and move more easily between fiat and crypto. We look forward to working with Paxos to grow the ecosystem.”
Charles Cascarilla, CEO and Co-Founder of Paxos, added, “Today, many of our PAX users are on Binance. We’ve seen significant growth of PAX through Binance since we launched on the platform last year. We believe this easy fiat on-ramp with PAX to Binance will make it even better for traders to benefit from deep liquidity pools and price discovery.”