In recent developments in cryptocurrency payments, according to
reports, the PAX stablecoin, which is backed 1:1 by U.S. dollars,
recently exceeded $5 billion in transaction volume in just over
three months of its September launch. Another recently launched
stablecoin, USD Coin, has been added by the cryptocurrency exchange
Binance as a "trading pair" option for six different
cryptocurrencies.
This week, Coinbase began allowing its retail customers to trade
bitcoin in "trading pairs," where bitcoin is exchanged
for another type of cryptocurrency. Coinbase also recently
announced that its U.S. customers now will be able to withdraw cash
balances to their accounts at a major U.S. internet payment
processor. And startup OpenNode recently announced that it has
closed a seed-funding round from a major U.S. venture capital firm
to develop a new bitcoin payment processing system for merchants
that want to accept bitcoin as payment.
