Paxos Protocol Adops Chainlink Oracles

by in DeFi News

Paxos Partners with Chainlink

On January 14, Paxos announced a partnership with Chainlink to exploit its industry-leading decentralized oracle system and make its tokens more reachable in the DeFi environment. The stablecoins paxos standard (PAX) and paxos gold (PAXG) are now accessible on Chainlink’s oracle network.

Related: Gemini exchange is considering entering the stock market

A great part of DeFi projects uses Chainlink's technology, which allows connecting blockchains with real-world data. As for Paxos, it is the first regulated Trust firm for digital assets. Paxos technology provides tokenization, custody, exchange, and settlement for assets. Among the company's clients are PayPal, Credit Suisse, Revolut, and others. PayPal announced it had picked Paxos to power the new service in October. The service enables US customers to buy, hold, and sell cryptocurrency immediately from their PayPal digital wallet. Among leading DeFi platforms, only MakerDAO sug PAX as a collateral type presently.