The value of the stablecoin Pax Dollar (USDP), issued by the Paxos Trust Company, experienced a surge to a high of $1.28, triggering the liquidation of $529,000 in USDC for a market participant.

In a groundbreaking move, Binance, the world's premier cryptocurrency exchange, is set to redefine its futures trading platform by introducing FDUSD as a margin asset and bidding farewell to USDP. This strategic overhaul, slated to commence on March 8, 2024, at 09:00 (UTC), is poised to enhance the flexibility and robustness of Binance Futures for its vast user base.

Binance, one of the foremost cryptocurrency exchanges globally, has officially announced a significant transition in its margin assets on the Binance Futures platform. In a move aimed at enhancing the trading experience and aligning with market demands, Binance will be shifting its support from USDP to FDUSD.

Binance Futures is set to support FDUSD as a margin asset, replacing USDP in Multi-Assets Mode, enhancing the platform's flexibility for users.

The company aims to compete with major stablecoin issuers, utilizing Solana's efficiency for lower fees with Paxos USDP stablecoin.

Paxos's Solana expansion was approved by NYDFS.

Paxos, a stablecoin issuer based in New York, is expanding its operations into the Solana (SOL) network, marking a pioneering move as the first multi-chain platform to operate under regulation across various jurisdictions.

Paxos, a major player in the stablecoin market, has secured regulatory approval from the New York Department of Financial Services (DFS) to expand its stablecoin offerings to the Solana blockchain, according to a Dec. 22 Fortune report.

Paxos claims that the approval from the New York regulator aligns with its commitment to regulatory compliance and transparency.

The producer of the S&P 500 assessed eight stablecoins. Tether received the second-lowest rating.

For the first time in months, the entire list of top ten stablecoin assets has experienced supply shrinkage in the last 30 days. The stablecoin market now stands at $124 billion, following notable reductions across several projects.

Paxos Dollar (USDP) may not be a top stablecoin, but its recent surge in metrics has attracted whales, indicating significant accumulation and market attention.

Blockchain analytics platform Santiment says that deep-pocketed investors are scooping up a massive amount of one crypto asset as Bitcoin's (BTC) price hovers.

Paxos's Pax Dollar (USDP) is a regulated stablecoin.

In a move set to alleviate the burden of exorbitant remittance fees for customers, Paxos, the pioneering blockchain finance company, has joined forces with MercadoLibre, a leading online marketplace, to introduce the Pax Dollar (USDP) to the Mexican crypto market.

The move provides PAX coin access to Mexico's 3.1 million-plus cryptocurrency users.

Paxos is teaming up with Mercado Libre to make the regulated Pax Dollar available in Mexico.

The e-commerce giant's Mercado Pago app will give Mexicans access to digital dollars.

Today's crypto market highlights Nexo (NEXO), Flare (FLR), Pax Dollar (USDP), PAX Gold (PAXG), Dai (DAI), and Tether (USDT) as the top gainers, while Floki Inu (FLOKI), PepeCash (PEPE), PancakeSwap (CAKE), Huobi Token (HT), Luna Classic (LUNC), Conflux (CFX), and Woo Network (WOO) have experienced losses.

Today's cryptocurrency market showcases a mix of projects experiencing notable gains and others facing significant losses. Arbitrum, Optimism, WOO Network, Ethereum, and Cardano have emerged as the top gainers of the day, while Quant, LEO, Monero, and Pax Dollar are the top losers.

Recently, the stablecoin market experienced significant changes, creating an opportunity for other stablecoins, such as Pax Dollar [USDP] and TrueUSD [TUSD], to grab the market share. Since Binance's [BUSD] decline following CFTC's allegations, there has been a vacancy at the top of the list.

According to statistics, on March 26, the stablecoin economy was valued at $135 billion, with the top stablecoins representing $31.8 billion or 75% of the $42.17 billion in 24-hour global trade volume across the entire crypto market. In the last two weeks since March 11, 7.06 billion USDC and 351.57 million BUSD have been redeemed.

Definition The total amount of coins held on exchange addresses.

The cryptocurrency market has been rattled by the recent collapse of SVB and the subsequent depegging of stablecoins. This incident has highlighted the need for greater transparency and accountability from stablecoin issuers and the importance of regulatory oversight in ensuring the stability of the cryptocurrency market.

The USDP stablecoin lost its peg briefly on Feb. 10 after falling to $0.98. The New York Department of Financial Services (NYDFS) is reportedly probing Paxos.

Paxos, the company that issues Stablecoins, has come forward with a new proposal in which it suggests the payout of monthly marketing fees to MakerDAO, the top decentralized finance (DeFi) protocol, to boost the use of its Pax dollar (USDP).

Paxos, the company that issues Stablecoins, has come forward with a new proposal in which it suggests the payout of monthly marketing fees to MakerDAO, the top decentralized finance (DeFi) protocol, to boost the use of its Pax dollar (USDP).

In a new proposal, Stablecoin issuer Paxos proposed the payment of monthly marketing fees to the leading decentralized finance (DeFi) protocol, MakerDAO, to promote the use of its Pax dollar (USDP) within the Maker ecosystem and increase the USDP ceiling to 1.5B USDP.

Many investors are being saved by stablecoins from the almost inevitable volatility of the cryptocurrency market. Investors buy stable coins every day because they provide better security against cryptocurrency volatility.

Paxos has proposed a partnership with MakerDAO that will essentially increase the Paxos dollar (USDP) backing for the DAI stablecoin issued by the Maker protocol.

The proposal by Paxos is part of MakerDAO's effort to generate income on its $7 billion digital asset reserve.

As markets are collapsing, more and more stablecoins are increasing their market shares: Meet most promising newbies

Stablecoins explained: In simple terms, a stablecoin is a digital currency that retains its value because it's backed by the value of an underlying asset, which can be anything from fiat currency to oil and gold, or sometimes even cryptocurrency. The post Best Stablecoins, Rated and Reviewed for 2022 appeared first on Bitcoin Market Journal.

India-focused crypto exchange WazirX will unlist three leading stablecoins — Circle's USDC, Paxos' USDP, and TrueUSD's TUSD — effective September 26. In a statement, the company said that users could withdraw their funds by October 5, after which these stablecoins will automatically be converted into BUSD.

WazirX will no longer support the stablecoins USDC, TUSD, and USDP. Instead, it will push for adopting Binance's BUSD.

Indian cryptocurrency trading platform WazirX has announced it will be delisting USD Coin (USDC), USDP, and TUSD in a move that is similar to its so-called parent company, Binance Exchange

The crypto asset exchange Wazirx is following Binance's move by delisting a number of stablecoins and automatically converting them to BUSD at a 1:1 ratio. Wazirx customers have until September 23 to withdraw their stablecoins if they don't want the funds converted.

The decision to transition to greater BUSD support comes  after WazirX and Binance last month got into a public spat over the Indian firm's ownership. The post WazirX exchange to delist stablecoins USDC, USDP, and TUSD appeared first on The Block.

The world's largest crypto exchange is “consolidating” liquidity around its own stablecoin, BUSD – in a move that could benefit Circle and harm Tether.

The largest cryptocurrency exchange in the world, Binance has announced that it will auto-convert USDC, USDP, and TUSD to Binance USD.

Binance has shaken the stablecoin space, announcing it will automatically convert USDC, USDP, and TUSD into its own stablecoin.

On Monday (September 5), Binance announced that it will no longer support the use of fiat-collateralized stablecoins $USDC, $USDP, and $TUSD for trading, and instead “users' existing balances and new deposits” will automatically get converted to $BUSD at a 1:1 ratio.

Binance announced its BUSD auto-conversion program, a company blog post said Monday (Sept. 5), which converts one-to-one USDC, USDP and TUSD stablecoins to Binance's own BUSD.

The action effectively removes the world's second biggest stablecoin USDC as a tradeable asset on Binance's platform.

Bitcoin.com Wallet has announced the addition of more ERC-20 tokens to its list of supported assets. We tell you more about this.

Paxos, the regulated blockchain infrastructure platform, has disclosed the “specific” financial instruments backing its “regulated” stablecoins USDP and BUSD. Moving forward, Paxos will “provide these detailed disclosures on a monthly basis in addition to its attestations.

Paxos Trust became the first stablecoin issuer to reveal the composition of its reserves for Binance USD (BUSD) and the Pax Dollar (USDP). The post Paxos Trust Reveals USDP and BUSD Reserves in Challenge to Other Stablecoin Issuers appeared first on BeInCrypto.