Share this article
Paxos Launches Automatic Conversions Between Bank Deposits and Stablecoins
Paxos is enabling a new auto-transfer feature to streamline the conversion of funds between bank accounts and stablecoin deposits.
By Nikhilesh De
Updated Sep 13, 2021, 12:10 p.m. Published Jan 21, 2020, 4:01 p.m.
Paxos announced Tuesday a new feature allowing customers to automatically wire transfer funds from their bank accounts into either Paxos Standard or Binance USD stablecoins. Conversely, any PAX or BUSD sent to the designated address will be automatically wired back to the individual’s bank account in USD.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Zach Kwartler, senior product manager at Paxos, told CoinDesk this functionality, dubbed Auto-Transfers, should be available with any bank in the U.S.
“The blockchain and the real financial world need to be closer together,” he said. “For us, our vision is to use this as an infrastructure layer, to get more and more dollars on the blockchain.”
The main use case for stablecoins to date has been as a tool for crypto trading, but Kwartler said this can aid payments use cases as well.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
DOT Sinks 2% After Breaking Key Support
The Polkadot token erased earlier gains amid elevated volume, falling from a high of $2.09 to $1.97.
What to know:
- DOT collapsed through ascending trendline support around the $2.05 level on a massive 284% volume surge.
- The token broke decisively below the support level to trade 2% lower over the last 24 hours.
Top Stories
