• Tether
    Alt coins,  Bitcoin,  Tether

    Binance now lets traders dump Tether for Paxos Standard

    Paxos has some lofty goals for its token

    Dumping tether for a safer stablecoin just got a lot easier. On Thursday, Paxos announced that its new stablecoin, Paxos Standard (PAX), is now tradable against Tether’s token (USDT) on the Binance exchange. ZB.com started making markets in PAX/USDT pairs a few days earlier and roughly 70 percent of PAX’s daily volume is traded on that exchange. Like USDT, PAX trades at about 1-to-1 versus the U.S. dollar. But unlike tether, Paxos Standard is regulated by a government entity—the New York State Department of Financial Services. Tether maintains that it can’t be audited. This has been an interesting week for Tether. As first reported by Modern Consensus, Tether’s reserve bank,…