Paxos launches automatic conversion between bank deposits and stablecoins

Paxos announced a new feature on Tuesday that allows customers to automatically wire funds from their bank account to Paxos Standard or Binance USD stablecoins. Instead, any PAX or BUSD sent to the specified address will be automatically remitted back to the individual's bank account in U.S. dollars. Zach Kwartler, senior product manager at Paxos, told CoinDesk that the feature should be available to any bank in the United States.