Share this article
'Up to 100 Million' Paxos Stablecoins to Be Issued on Ontology Blockchain
Ontology is to launch the Paxos Standard stablecoin, a regulated token backed by U.S. dollars, on its blockchain.
Updated Sep 13, 2021, 9:06 a.m. Published Apr 27, 2019, 2:50 a.m.
Ontology is to launch the Paxos Standard (PAX) stablecoin, a cryptocurrency backed 1:1 with U.S. dollars, on its blockchain.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The launch will make it easier for individuals and businesses using Ontology’s ONT token to transact in fiat-pegged tokens, Ontology announced Friday. The firm told CoinDesk that it plans to add up to 100 million PAX to Ontology's network, depending on demand.
Paxos Standard (PAX) is a regulated U.S. dollar-backed stablecoin and was launched last September. It is currently available only on the ethereum blockchain as an ERC-20 token, but now there will be a second option.
The new version of PAX would have the same ticker symbol and will be based on Ontology's OEP-4 token standard.
Ontology co-founder Andy Ji told CoinDesk that while PAXOS will still be the entity for conducting know-your-customer process and U.S. dollar deposit and withdrawal, it authorized Ontology to issue the PAX on its blockchain through the partnership.
He said:
“The launch of PAX on the Ontology blockchain will greatly accelerate real business applications on Ontology, create more success stories of traditional businesses shifting to distributed businesses, and provide enterprise partners and institutional investors with a regulated, reliable, and safe gateway to the world of digital assets.”
The announcement comes on the heels of the New York attorney general's allegation that the Bitfinex exchange, which shares management and owners with stablecoin issuer Tether, lost $850 million of corporate and client funds and subsequently used Tether's reserves to secretly cover the shortfall.
Ontology emphasized that unlike Tether, PAX ensures open auditing and all its deposits in U.S. dollars are kept in independent accounts at Federal Deposit Insurance Corp.-insured banks in the U.S.
Singapore-based Ontology Foundation launched its public blockchain network last June, aiming to provide a high volume of fast and cheap transactions.
Edit (09:40 UTC, April 29, 2019): This article has been amended to clarify that Ontology is behind the launch, not Paxos.
Paxos image via Shutterstock
Sizin için daha fazlası
Bilinmesi gerekenler:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Sizin için daha fazlası
DOT Sinks 2% After Breaking Key Support
The Polkadot token erased earlier gains amid elevated volume, falling from a high of $2.09 to $1.97.
Bilinmesi gerekenler:
- DOT collapsed through ascending trendline support around the $2.05 level on a massive 284% volume surge.
- The token broke decisively below the support level to trade 2% lower over the last 24 hours.
Top Stories
