#Binance Will Add PAX Quote Pairs into the USDⓈ Trading Market/Tab
Binance will add the following trading pairs with PAX as a quote asset into the USDⓈ Trading Market/Tab at 2018/11/29 1:00 PM (UTC):
BNB/PAX, BTC/PAX, ETH/PAX, XRP/PAX, EOS/PAX and XLM/PAX.
Please note: The existing PAX/BNB, PAX/BTC, PAX/ETH trading pairs will be removed and delisted at 2018/11/30 1:00 PM (UTC). All existing orders in each order book will also be canceled at this time.
About Paxos (PAX): Paxos Standard™ is the world's first regulated crypto asset. The Paxos Standard token is fully collateralized 1:1 by the U.S. dollar, issued by the Paxos Trust Company, and approved and regulated by the New York State Department of Financial Services. Built on the Ethereum blockchain, it offers the benefits of crypto-assets such as immutability and decentralized accounting. Since it is fully collateralized by dollars, Paxos Standard offers a liquid, digital alternative to cash that is available 24/7 for instantaneous transaction settlement and is fully redeemable. As a Trust company, Paxos is a fiduciary and qualified custodian of customer funds, and can therefore offer greater protections for customer assets than any other existing stablecoin. Dollar deposits used to purchase PAX from Paxos.com are always held in segregated accounts at multiple FDIC-insured U.S.-domiciled banks. Verified Paxos customers can purchase and redeem tokens directly through Paxos.com on a 1:1 basis with USD. Paxos Standard has been designed as an Ethereum token written according to the ERC-20 protocol, so that anyone with an Ethereum wallet will be able to send and receive Paxos Standard tokens. The smart contract has been audited by smart contract auditors Nomic Labs and ChainSecurity, and nationally top-ranking auditing firm Withum will perform attestation procedures on our token and bank account balances on a month-end basis.
About Binance: Binance is one of the largest and most liquid alt coin trading platforms with millions of users from over 200 countries. It's only fundable by crypto and it offers easy trading on over 150 different cryptocurrency pairs.
About Binance Coin (BNB): During it's ICO, Binance issued its own token called the Binance Coin, with BNB as the symbol. BNB runs natively on the Ethereum blockchain and follows the ERC20 token standard.The token was established with a total supply of 200 million. As per their whitepaper, Binance plans to use 20% of our profits each Quarter to buyback and burn BNB, until 50% of the total BNB supply (100 million) is burned. The BNB token itself has multiple forms of utility, essentially being the underlying gas that powers the Binance Ecosystem. The current most prominent use cases include using BNB to: - Pay for trading fees on the exchange, obtaining the equivalent of a 50% discount on trades (during the first year). - Monaco has included support for Binance’s BNB token to its platform which includes the Monaco Visa Card and mobile app. - Uplive platform supports BNB to buy virtual gifts. You can use BNB to pay for any fees on their platform, including but not limited to: Exchange fees, Listing fees, and any other fee. When you use BNB to pay for fees, you will receive a significant discount.
Binance Coin (BNB) is the 16th largest according to market cap size with a market cap of $686,179,372. It's up 5.13% over the past 24 hours and is currently trading at $5.25.