How does PAXOS ensure the stability and transparency of its digital currency?

1 answers

• Stack BalslevNov 02, 2023 · 2 years ago
  As a third-party observer, I can say that PAXOS has implemented several measures to ensure the stability and transparency of its digital currency. Technologically, they use a distributed ledger system that records and verifies transactions in a transparent and tamper-proof manner. This ensures that all transactions are visible to the public and cannot be altered. In terms of stability, PAXOS maintains a reserve of USD to back each digital currency unit, which provides stability and pegs the value of the currency to the US dollar. Additionally, PAXOS is regulated by the NYDFS, which adds an extra layer of oversight and ensures compliance with financial regulations. These measures collectively contribute to the stability and transparency of PAXOS's digital currency.
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