Ontology (ONT) Increase of 10.00%: Pax starts the movement

As of the date of writing, the 19th largest coin over thousands by market capitalization counts and hosts a double-digit gain of 10.00% against the US dollar. According to CoinMarketCap – the ONT / USD pair is changing hands at $ 1.15 with a trading volume of $ 108 million.

With the goal of issuing about 100 million PAX tokens with a dollar tied with $ 1, the team behind Paxos has partnered with Ontology to make this happen in May. Andy Ji – co-founder of Ontology, commented on the case, saying that PAXOS would continue to initiate KYC processes, but that he would also be the author.

"The launch of PAX on the ontology blockchain will dramatically accelerate real-world ontology business applications, create more success stories from traditional businesses moving to distributed businesses and provide partners with companies and institutional investors a regulated, reliable and secure gateway to the world. digital badets. "

This move makes it easy for anyone who uses or will use the ONT token to trade in traditional indexed tokens. Currently, the PAX token, which is a stable currency supported by the US dollar, is an ERC-20 token, which is the second largest Ethereum (ETH). It will go through the same and standard ONT OEP-4 token.

The news coincided with New York's attorney general's claim that the Bitfinex trading platform would have lost $ 850 million from customers and businesses and covered backtracking through Tether's reserves. According to a lawsuit brought by Letitia James, iFinex Inc., company originally from the two cryptographic startups mentioned above, has encouraged the "broadcast, distribution, exchange, advertising, trading, buying , investment advice or the sale of securities "in the State of New York. which is illegal without the appropriate licenses and documentation. Although, technically, Bitfinex's services are not fully available in the financial capital of the United States, the complaint indicates that the NYAG office suspects local merchants of actively using the stock exchange and the stablecoin.