On the morning of Beijing time, Ontology announced that it has cooperated with financial technology company Paxos to issue stable currency PAX based on the ontology blockchain platform. PAX was issued on September 10, 2018 with the approval of the New York Financial Services Authority (NYDFS). Unlike other MSBs (Money Services Business) such as USDT, PAX is the first compliant and regulated US dollar stable token with outstanding advantages such as public audit, capital security and full support of the exchange. Tether, which is exchanged for one dollar, is a truly stable "digital dollar." This cooperation symbolizes the development of the ontology business into a new stage, and constantly explores various DeFi application areas such as the exchange business with industry partners.