PAX can now be redeemed instantly, stoking up competition in stablecoin market36

As Tether tumbled, Paxos is revamping its platform to solve one of the biggest headaches in stablecoins - redemptions.

Paxos, the issuer of stablecoin Paxos Standard (PAX), announced on Monday that PAX can now be redeemed instantly. This means that every PAX deposited on the firm's platform can be immediately sent to a bank as USD.

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