BINANCE AND PAXOS PARTNER ON PAX TO FIAT EXCHANGE PORTAL

The world of cryptocurrency is constantly evolving, and one of the most significant developments has been the increasing integration of traditional finance with the digital asset space.In a move that underscores this trend, Binance, the leading cryptocurrency exchange by trading volume, and Paxos, a regulated digital asset trust company, have joined forces to launch a new fiat deposit gateway on Binance's flagship trading platform. The Binance exchange and Paxos, the regulated digital asset trust company, have entered a collaboration to integrate a new deposit gateway on Binance.com. It will significantly facilitate fiat-toThis collaboration allows traders to seamlessly exchange fiat currencies directly for PAX Standard (PAX), a stablecoin issued by Paxos, through a dedicated portal. Binance and Paxos Partner on PAX to Fiat Exchange Portal. J. 6 Questions for Rene Reinsberg of Celo Cointelegraph Magazine. M rz 31, 2025.This integration promises to enhance liquidity, streamline the funding process for Binance users, and further bridge the gap between the traditional financial system and the burgeoning crypto market.The partnership not only simplifies the process of acquiring PAX but also allows users to benefit from zero-fee PAX redemptions on Binance. Paxos Releases Fiat Gateway Gateway Solutions and APIs, Binance is First to UtilizeBy leveraging Paxos’ regulated infrastructure and Binance’s extensive reach, this initiative represents a significant step forward in making cryptocurrency more accessible and user-friendly for both seasoned traders and newcomers alike.

What is the Binance and Paxos Partnership All About?

The core of this partnership revolves around creating a more efficient and accessible on-ramp for users looking to enter the cryptocurrency market. The biggest crypto exchange by volume Binance and digital asset Trust company Paxos have integrated a new fiat deposit gateway on Binance s flagship trading platform. According to a pressTraditionally, converting fiat currency (like USD or EUR) into cryptocurrency could be a cumbersome process involving multiple steps and potential fees. Latest Breaking cryptocurrency news, altcoin, bitcoin, Litecoin (LTC), Ethereum, Zcash, Dash, Ripple, ICO, Monero (XMR), Bitcoin trading, Blockchain.The new portal, built by Paxos and integrated directly into the Binance platform, aims to simplify this process by allowing users to directly deposit fiat into their Paxos accounts and receive an equivalent amount in PAX stablecoins, which can then be readily used for trading on Binance.

Paxos offers a Fiat Gateway solution, a service that empowers customers to easily swap between dollars and stablecoins issued by Paxos, including both Paxos Standard (PAX) and Binance USD (BUSD).Crypto-native platforms can now use this Fiat Gateway to accept dollars and convert them seamlessly into stablecoins.

Key Benefits of the Partnership

• Simplified Fiat On-Ramp: Users can bypass the complexities of traditional crypto exchanges by depositing fiat directly into Paxos and receiving PAX on Binance.
• Increased Liquidity: The integration leverages the liquidity of PAX on the Binance exchange, ensuring efficient trading.
• Zero-Fee PAX Redemptions: All PAX redemptions on Binance are reportedly fee-free, and not be subject to minimum or maximum thresholds for withdrawals and deposits.
• Regulatory Compliance: Paxos, as a regulated trust company, brings a layer of security and compliance to the process, fostering trust among users.
• Enhanced User Experience: The partnership aims to make the entire process more intuitive and user-friendly for both experienced traders and newcomers.

How Does the PAX to Fiat Exchange Portal Work?

The process is designed to be straightforward and user-friendly.Here's a breakdown of how the new portal typically functions:

1. User Wires Fiat to Paxos: Binance users can initiate a fiat deposit through the integrated portal.This involves wiring funds from their bank account directly to Paxos.
2. Paxos Converts Fiat to PAX: Upon receiving the fiat deposit, Paxos converts the funds into PAX stablecoins at a 1:1 ratio (1 USD = 1 PAX).
3. PAX Deposited into Binance Account: The equivalent amount of PAX is then automatically deposited into the user's Binance account.
4. Trading on Binance: The user can now utilize the PAX stablecoins to trade any of the cryptocurrencies available on the Binance exchange.

For example, a user who wants to buy Bitcoin (BTC) could wire $1,000 to Paxos through the portal.Paxos would then convert the $1,000 into 1,000 PAX and deposit it into the user's Binance account. NEW YORK-Septem-The regulated financial institution that digitizes and mobilizes assets, Paxos Trust Company, and global cryptocurrency exchange and blockchain ecosystem, Binance, today announced its partnership to launch a USD-denominated stablecoin, Binance USD (BUSD), which has received approval from the New York State Department of Financial Services (NYDFS).The user could then use the 1,000 PAX to purchase BTC on Binance.

Practical Example: Funding Your Binance Account with Fiat via Paxos

Let's walk through a practical example of how to use the new Paxos gateway to fund your Binance account with fiat currency:

1. Log in to your Binance account: Access your Binance account through the website or mobile app.
2. Navigate to the ""Deposit"" section: Find the ""Deposit"" option, usually located in the ""Wallet"" or ""Funds"" section.
3. Select ""Fiat"" as the deposit type: Choose ""Fiat"" from the list of deposit options.
4. Choose your desired fiat currency: Select the fiat currency you want to deposit (e.g., USD, EUR, GBP).
5. Select ""Paxos"" as the deposit method: You should see Paxos listed as a fiat deposit gateway option.Select it.
6. Follow the on-screen instructions: Binance will provide instructions on how to wire your fiat currency to Paxos. Pax Dollar (USDP) es una stablecoin con garant a vinculada directamente al d lar estadounidense. Dise ada para permitir que los usuarios de las criptomonedas efect en transacciones con tokens basados en fiat mientras ofrecen las ventajas de la tecnolog a de la blockchain, Pax Dollar, antiguamente llamada Paxos Dollar, facilita las transacciones con criptomonedas al tiempo que reduce laThis will include Paxos' bank details, account number, and any reference codes you need to include in your wire transfer.
7. Initiate the wire transfer from your bank: Use your bank's online banking platform or visit a branch to initiate the wire transfer to Paxos.Be sure to include all the required information accurately.
8. Wait for the funds to be processed: Once Paxos receives your wire transfer, they will convert the fiat currency to PAX and deposit it into your Binance account.This process may take a few hours or up to a business day, depending on your bank and Paxos' processing times.
9. Start trading: Once the PAX is credited to your Binance account, you can start trading cryptocurrencies on the platform.

Paxos Standard (PAX): Understanding the Stablecoin

Paxos Standard (PAX) is a USD-backed stablecoin issued by Paxos Trust Company.Each PAX token is backed by one U.S. dollar held in reserve by Paxos.This 1:1 backing ensures that PAX maintains a stable value, making it a reliable medium of exchange and store of value within the cryptocurrency ecosystem.

Key Features of PAX

• USD-Backed: Every PAX token is fully backed by USD held in reserve.
• Regulated: Paxos is a regulated trust company, providing oversight and transparency to the PAX stablecoin.
• Redeemable: PAX holders can redeem their tokens for USD at any time.
• Liquid: PAX is listed on numerous cryptocurrency exchanges, ensuring high liquidity.
• Audited: Paxos undergoes regular audits to verify the reserves backing PAX.

The Importance of Stablecoins in Cryptocurrency Trading

Stablecoins like PAX play a crucial role in the cryptocurrency ecosystem by providing stability and reducing volatility.They offer several advantages for traders and investors:

• Safe Haven: During periods of market volatility, traders can convert their cryptocurrencies into stablecoins like PAX to protect their capital.
• Trading Pair: Stablecoins serve as a base currency for trading against other cryptocurrencies.
• Payment Method: Stablecoins can be used for payments and remittances, offering a faster and cheaper alternative to traditional methods.
• Yield Farming and Lending: Stablecoins are often used in decentralized finance (DeFi) protocols for yield farming and lending.

Paxos' Other Offerings: BUSD, USDP, and Pax Gold (PAXG)

While the partnership with Binance focuses on PAX, Paxos offers a suite of other digital assets, including Binance USD (BUSD), Pax Dollar (USDP) and Pax Gold (PAXG). According to a press release published on June 26, the gateway will enable traders to exchange fiat currency for the PAX Standard (PAX) stablecoin on the Paxos platform via wire transfer. All PAX redemptions on Binance will reportedly be zero-fee, and not be subject to minimum or maximum thresholds for withdrawals and deposits. As reported, Paxos has recently enabled users to instantly redeemLet's briefly explore these offerings:

Binance USD (BUSD)

Binance USD (BUSD) is another USD-backed stablecoin issued by Paxos in partnership with Binance.Similar to PAX, BUSD is designed to maintain a stable value and is fully backed by USD held in reserve.While PAX and BUSD share many similarities, they serve slightly different purposes and are listed on different exchanges.

Pax Dollar (USDP)

Previously known as Paxos Standard, Pax Dollar (USDP) is a stablecoin pegged to the U.S. dollar.It provides stability within the crypto market and offers users a reliable way to transact with tokens backed by fiat currency.USDP enables efficient cryptocurrency transactions while benefiting from blockchain technology.

Pax Gold (PAXG)

Pax Gold (PAXG) is a unique digital asset that represents ownership of one fine troy ounce of gold stored in Brink's vaults.Each PAXG token is backed by physical gold, making it a convenient and accessible way to invest in gold.PAXG combines the benefits of gold ownership with the liquidity and divisibility of digital assets.

The Regulated Environment: Paxos and Compliance

One of the key strengths of Paxos is its commitment to regulatory compliance. Binance, the world s largest cryptocurrency exchange by volume, and Paxos, the first regulated Trust company for digital assets, today announced a partnership to integrate a new deposit gateway on Binance.com. The portal will allow traders to exchange fiat directly for PAX on the Paxos platform and benefit from the stablecoin s liquidity on the Binance exchange. [ ]As a regulated trust company, Paxos operates under the supervision of the New York State Department of Financial Services (NYDFS).This regulatory oversight ensures that Paxos adheres to strict standards for capital reserves, customer protection, and anti-money laundering (AML) compliance.

Benefits of Regulation

• Trust and Security: Regulation provides users with assurance that their funds are safe and protected.
• Transparency: Regulatory requirements promote transparency in Paxos' operations and reserves.
• Compliance: Paxos adheres to strict AML and KYC (Know Your Customer) regulations, helping to prevent illicit activities.
• Investor Protection: Regulation protects investors from fraud and mismanagement.

The Securities and Exchange Commission (SEC) concluded its investigation of Paxos following a Wells Notice of February 2025, stating that it would not recommend enforcement action against Paxos Trust Company in the investigation of Binance USD (BUSD).This highlights Paxos' commitment to compliance and working with regulatory bodies.

Who Benefits from the Binance and Paxos Partnership?

This partnership benefits a wide range of stakeholders within the cryptocurrency ecosystem:

• Binance Users: Users gain access to a more convenient and efficient way to fund their accounts with fiat currency.
• Paxos: Paxos expands its reach and increases the adoption of its stablecoins.
• Cryptocurrency Traders: Traders benefit from increased liquidity and reduced volatility.
• Newcomers: The simplified on-ramp makes it easier for newcomers to enter the cryptocurrency market.

Challenges and Considerations

While the partnership offers numerous benefits, it's important to consider potential challenges and considerations:

• Bank Transfer Fees: Users may still incur fees for initiating wire transfers from their banks.
• Processing Times: Wire transfers can take time to process, which may delay trading activities.
• Regulatory Changes: Changes in regulations could impact the operation of stablecoins and fiat gateways.

Future Implications and Developments

The Binance and Paxos partnership represents a significant step towards mainstream adoption of cryptocurrency.As the integration of traditional finance and digital assets continues to evolve, we can expect to see further developments in this space.

Possible Future Developments

• Expansion to Other Fiat Currencies: The portal could be expanded to support a wider range of fiat currencies.
• Integration with Other Platforms: The fiat gateway could be integrated with other cryptocurrency exchanges and platforms.
• Development of New Stablecoin Products: Paxos and Binance could collaborate on the development of new stablecoin products.

Common Questions About the Binance and Paxos Partnership

What is PAX Standard (PAX)?

PAX Standard (PAX) is a USD-backed stablecoin issued by Paxos Trust Company. According to Paxos, the portal will allow traders to exchange fiat directly for PAX on the Paxos platform and benefit from the stablecoin s liquidity on the Binance exchange thus creating a fiatEach PAX token is backed by one U.S. dollar held in reserve by Paxos, ensuring price stability.

How do I use the Paxos fiat gateway on Binance?

You can use the Paxos fiat gateway by navigating to the ""Deposit"" section on Binance, selecting ""Fiat"" as the deposit type, and choosing ""Paxos"" as the deposit method. The new Paxos Developer Portal hosts more information about all Paxos APIs and solutions, including: Fiat Gateway - A solution that enables customers to easily swap between dollars and stablecoins issued by Paxos, including both Paxos Standard (PAX) and Binance USD (BUSD). For example, a crypto-native platform could use Fiat Gateway to acceptFollow the on-screen instructions to wire your fiat currency to Paxos.

Are there any fees associated with using the Paxos fiat gateway?

Paxos does not charge fees for converting fiat to PAX.However, your bank may charge fees for initiating wire transfers.Also, all PAX redemptions on Binance are reportedly zero-fee.

Is Paxos a regulated company?

Yes, Paxos is a regulated trust company under the supervision of the New York State Department of Financial Services (NYDFS).

What are the benefits of using a stablecoin like PAX?

Stablecoins like PAX provide stability in the cryptocurrency market, serve as a safe haven during volatility, and can be used for trading, payments, and yield farming.

Conclusion: Streamlining Fiat-to-Crypto with Binance and Paxos

The partnership between Binance and Paxos to integrate a new fiat deposit gateway marks a significant advancement in the accessibility and usability of cryptocurrency.By allowing users to seamlessly convert fiat currencies directly into PAX stablecoins, the portal streamlines the funding process, enhances liquidity, and bridges the gap between traditional finance and the digital asset world. The biggest crypto exchange by volume Binance and digital asset Trust company Paxos have integrated a new fiat deposit gateway on Binance s flagship trading platform. According to a press release published on June 26, the gateway will enable traders to exchange fiat currency for the PAX Standard stablecoin on the Paxos platform via wirePaxos' commitment to regulatory compliance and the stability of PAX further contribute to the trustworthiness and reliability of the platform. Binance, the world s largest cryptocurrency exchange by volume, and Paxos, the first regulated Trust company for digital assets, today announced a partnership to integrate a new deposit gateway on Binance.com. The portal will allow traders to exchange fiat directly for PAX on the Paxos platform and benefit from the stablecoin s liquidity onThis collaboration not only benefits existing cryptocurrency traders but also paves the way for wider adoption by making it easier for newcomers to enter the market.As the cryptocurrency landscape continues to evolve, partnerships like this one will play a crucial role in shaping the future of finance. The biggest crypto exchange by volume Binance and digital asset Trust company Paxos have integrated a new fiat deposit gateway on Binance s flagship trading platform. According to a press release published on June 26, the gateway will enable traders to exchange fiat currency for the PAX Standard (PAX) stablecoin on the Paxos platform via wireKey takeaways from this partnership include the simplified fiat on-ramp, increased liquidity, zero-fee PAX redemptions, and the security provided by Paxos' regulatory compliance.Whether you're a seasoned trader or new to the world of cryptocurrency, the Binance and Paxos partnership offers a compelling solution for seamless fiat-to-crypto conversions.