Ontology to Launch Regulated USD-Backed Stablecoin PAX on its Blockchain

Enterprise blockchain platform Ontology (ONT) plans to launch a version of the regulated USD-backed stablecoin Paxos Standard (PAX) on its own blockchain. The company announced the news in a press release published on April 27. Per the release, the new token (PAXO) will be based on Ontology’s OEP-4 token standard, which will enable atomic swaps between the Ontology-based main blockchain and other blockchains. This feature reportedly aims to make it easier for institutions and individuals to do business in fiat terms in the Ontology ecosystem. The company claims that PAX…

Neo’s Next Act? $700 Million Crypto Ontology Is About to Go Live

If all goes well, $700 million worth of cryptocurrency is about to find a new home. That’s because Shanghai-based Ontology, a project closely tied to the “smart economy” blockchain Neo, is expected to launch its live blockchain on June 30, a step that will find one of the top 20 crypto assets finally releasing its proprietary technology. Described as an enterprise-focused platform, Ontology is seeking to provide a high volume of fast and cheap transactions, all while helping businesses grapple with the thorny problems of interoperability and digital identity. As…