Paxos Gets Regulatory Nod in Singapore for Stablecoins

Paxos secures Singapore's central bank approval to offer digital payment token services

This approval allows Paxos to issue stablecoins that meet Singapore’s regulatory standards.

Paxos joins 19 entities in Singapore with major payment institution status, expanding global reach.

Collaboration with DBS Bank enhances Paxos crypto services, integrating stablecoins into mainstream banking.

DBS, a pioneer in digital assets partners with Paxos to offer innovative crypto services.

Despite workforce reductions, Paxos remains financially strong with over $500 million on its balance sheet.

Paxos' expansion in Singapore broadens global access to U.S. dollar stablecoins.

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