Paxos has released the new gold-backed PAX Gold (PAXG) token

Paxos has released the new gold-backed PAX Gold (PAXG) token

Paxos launches PAX Gold – Stable cryptocurrency issuer Paxos has released the new gold-backed PAX Gold (PAXG) token. Each PAX Gold can be converted to one ounce of gold, which currently costs about $ 1500.

The token was launched with the approval of the New York Department of Financial Services (NYDFS), and was listed on the Paxos Exchange.

PAX Gold (PAXG) is an ERC-20 token built on the Ethereum blockchain network. Thus, it can easily integrate on different platforms wallets and other crypto products. Paxos also states that digitizing gold helps to quickly trade assets.

Paxos Trust Company also recently announced a partnership with Binance to launch the stable US dollar-based cryptocurrency, Binance USD (BUSD).

$ 1 billion in Bitcoin, move into one wallet

Over 94,000 bitcoins, worth over $ 1 billion, have just been moved into an unknown wallet. Since Bakkt is beginning to offer bitcoin custody from today, it is possible that the receiving address belongs to Bakkt.

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The transaction consolidated bitcoins from 15 addresses and the fee for the 92 transactions totaled about $ 700.

The receiving address is now the fifth-largest BTC wallet.

The price of Bitcoin suffered a decline during the present day. It is trading around $ 10,350.

The Malta Financial Services Authority promises “active monitoring” of crypto companies

The Malta Financial Services Authority (MFSA) has said it will “actively monitor” companies that carry out activities associated with cryptocurrencies to prevent money laundering.

Malta hosts many crypto businesses, including the Binance exchange. The regulator said it is currently implementing a number of surveillance technologies to better identify fraud and protect investors.

In June, the European Commission recommended Malta to improve its anti-money laundering (AML) systems to match the growth of the country’s financial services. “Blockchain Island” also faced criticism from the International Monetary Fund (IMF). Recently failed an international AML evaluation.

Atletico Madrid launches a fan token

Spanish football team Atlético Madrid has announced a partnership with blockchain platform to launch a fan token. It will be launched in the fall of this year through a so-called Fan Token Offering (FTO) and will cost 2 euros.

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The token will be used to stimulate fan engagement, allowing users to participate in tokenized polls in the Socios mobile app. It can also be used for the purchase of promotional products, dedicated programs and games.

In addition to Atletico Madrid, two other European football teams, Paris Saint-Germain and Juventus have launched their own tokens on the platform.

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