Paxos Launches Regulated Ethereum-Based Stablecoin: A New Contender

Paxos, just like the Winklevoss Twins, just launched the world’s first regulated stablecoin. And, as a plus for Ethereum fans, both coins are Ethereum-based.^[1]

In short:

1. The new token (the Paxos Standard) is backed 1:1 by dollars, is meant to hold $1 in value, and is a Tether competitor.
2. “Regulated” means approved by the New York State Department of Financial Services (NYDFS).
3. The Winklevoss Twins’ stable coin also launched today at the same time. So they are both “world first regulated stablecoins.”