PAX, GUSD, USDC Gain Widespread Relevance as Demand for Regulated Stablecoins Increase

The stablecoin trio of Paxos Standard, Gemini Dollar, and USD//Coin have surged ahead in trading volume and adoption shortly after launch, indicating that investors and businesses alike look for reputed options to store the digital equivalent of their fiat balances.

The adoption of regulated, credible stablecoins in the cryptocurrency has occurred at an unprecedented pace, with the tokens seeing a significant increase in trading volume and usage.

The stablecoin has presumably accelerated as the crypto-market seeks a more compliant transparent stablecoin.

Leading the list is Boston-based Circle's stablecoin USD//Coin, which is pegged on a one-to-one basis with the USD and was launched in September 2018.

Including Circle's activity, USDC trading volume has grown weekly by 2,000 percent, as per data collated by the company.

Paxos Standard, the firm behind stablecoin Paxos Standard Token has seen a similar performance of its product in the crypto market.

PAX is regulated by the New York Department of Financial Services and is collateralized by the USD. Not far behind is Gemini Dollar, the Winklevoss Brothers-backed stablecoin, which was added as a settlement option on BitPay on Oct.15.

Exchanges have taken a liking to the three stablecoins after trust in industry-leading Tether is at an all-time low.

Earlier this week, Huobi announced the listing of four stablecoins simultaneously, as per an official statement on Oct. 16.

The fifth largest exchange by trading volume will now accept GUSD, PAX, USDC, and TrueUSD, a stablecoin pegged one-to-one with the U.S.D and created on the TrustToken platform.