PXO Token is the name of a stablecoin originating in Mexico that has completed a one million dollar investment round. This was reported to Cointelegraph in Spanish from the project.
The sign PXO is a stable currency represented by the Mexican peso (MXN), which has been in development since 2020. It has completed its first round of investment and is already preparing for a second elevator with the idea of starting operations in the second half of 2021
The aim is to create a natural connection between the traditional financial system and the crypto-asset ecosystem so that there is the possibility of settlement without depending on traditional bank transfers. In contrast to other stable coins PXO offers the guarantee that each of the tokens will be represented by an MXN peso. Trust is one of PXO’s greatest values, so the project is being developed in Ethereum that it is a public network and offers transparency?
Uses that have been considered for this token include wire transfers and hedging against volatility without the need to do so with stable coins pegged to the US dollar.
Some functions that can be performed with PXO are:
· Exchange with other crypto assets
· Payment for goods and services
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