We’re excited to announce that Paxos Standard (PAX) – the first regulated and liquid stablecoin – is now available on BlockFi, a leading wealth management platform for crypto investors. Starting today, you can deposit PAX on BlockFi and earn up to 8.6% interest annually on your holdings. Through BlockFi, you can also trade between PAX and other assets like BTC, ETH and LTC.
At Paxos, we’re focused on growing the $500M+ Paxos-powered stablecoin ecosystem that includes PAX, BUSD and HUSD. By making PAX available on BlockFi, more people can put their digital assets to work.
Zac Prince, CEO and Founder of BlockFi added, “We’re excited to support PAX on our platform and help expand stablecoin availability, with market leading yields, to BlockFi clients. As our respective platforms continue to grow, we expect to find more ways to collaborate.”
Walter Hessert, Corporate Strategy for Paxos, commented, “Earning interest on assets is a key aspect of global finance. Having this opportunity in crypto is important to growing the overall marketplace and bringing maturity to this asset class. We’re pleased that PAX is now available on BlockFi and look forward to bringing stablecoins to more people around the world.”
While interest rates in the US are reaching lows, stablecoins have reached new market cap highs. BlockFi’s interest rates on PAX signify growing demand and utility for digital dollars, and an ecosystem of partners that are constantly developing more ways to use them.