Paxos paired up with the leading cryptocurrency exchange-Binance to integrate a deposit gateway on Binance’s trading platform. Last year in September 2018 Paxos had announced regarding the launch of a new stable coin “Paxos Standard” or PAX. Now PAX is been approved by the New York State Department of Financial Services (NYDFS). Traders can exchange fiat directly for PAX on this new gateway of Paxos platform and will be able to receive the same amount in PAX directly in their Binance accounts.