Major crypto wallet provider Blockhain will soon add support for a dollar-peeged Stablecoin, PAX to its mobile wallet.
The head of Blockchain’s wallet department and strategy, Xen Baynham-Herd, states that in its bid to increase the use of cryptocurrency en masse it plans to support Stablecoin PAX and will soon enable fiat redemptions in the futures.
Xen statest that it is a very big deal for his company to add PAX as it is not just adding a new asset but its adding a true dollar balance into the wallet.
He adds that anyone with an internet connection can download a wallet and get USD funds.
Paxos’ PAX Stablecoin is amongst the first USD-pegged digital currencies to get the approval of the New York State Department of Financial Services (NYDFS).
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