The next platform is regulated by the blockchain infrastructure and is called Paxos. In turn, Paxos creates a completely new, open financial platform. Paxos has offices in as many as three of the world's financial capitals. If you need to join this platform, then just visit the page of the official website called "Career".
Paxos or stablecoin is a novelty in the world of digital currencies. It is supported not just by something mythical, its support is based on stable real assets. These assets include fiat money. Paxos stablecoins combine the incongruous. The effectiveness of blockchain technology and the stability of the US dollar will count here.
Paxos is a custodian of funds and reserves. It doesn't just exist, it is the equivalent of cash, which in turn backs your stablecoin. There is a guarantee that all the finances of the reserves are kept in at least one form, and even in both. The first form includes paper bills on specially allocated omnibus accounts, which in turn are insured with US banks. The second form is US Treasury bills. These include through buyback agreements and/or money market funds invested in US Treasury bills. All balances that are in reserve are constantly checked. The frequency of checks is once a month. All these measures were taken for a reason. They are designed to confirm that every stablecoin that is not redeemed is backed by cash. It is also possible that it is backed by US Treasury bills. These bills are fully equivalent to the US dollar.
Paxos co-founder Charles Cascarilla on crypto regulation
July 27, 2021