The largest bank in Singapore is partnering with a major stablecoin issuer to offer a new crypto custody service. According to a new Bloomberg report, DBS Group Holdings is offering a new crypto custody service in partnership with stablecoin-issuer Paxos Trust Co. According to a Paxos press release, the stablecoin issuer has secured approval from […]
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Paxos has secured full approval from the Monetary Authority of Singapore (MAS) to offer digital payment token services, positioning Singapore as a key player in Paxos’s global stablecoin operations. The approval permits the issuance of stablecoins compliant with MAS’s forthcoming regulatory framework. DBS Bank Named Main Banking Partner as Paxos Secures MAS Approval Paxos, a […]
Paxos will partner with Southeast Asia’s largest bank, DBS, for the stablecoin launch.
Paxos International blockchain and tokenization platform has received full regulatory approval from the Monetary Authority of Singapore (MAS).
The Singapore wing of Paxos, the issuer of the gold-backed stablecoin Pax Gold (PAXG), has received approval to offer digital payment token services as a Major Payments Institutions.
The regulatory approval enables Paxos to launch a stablecoin in line with MAS’ upcoming regulatory framework.
According to sources familiar with the matter, the stablecoin issuer Paxos is cutting 20% of its workforce. This development comes on the heels of Paxos International’s announcement of its yield-bearing stablecoin. Paxos Trims Workforce by 20% Bloomberg reports that Paxos has laid off 65 employees, which accounts for 20% of its staff. The information was […]
The blockchain and tokenization infrastructure platform Paxos has announced Paxos International has launched a new yield-bearing stablecoin called lift dollar (USDL). The stablecoin’s holders will earn overnight yield from short-term U.S. government securities and cash equivalent reserve assets with each USDL backed 1:1 in U.S. dollar value. New ‘Lift Dollar’ Stablecoin Offers Daily Returns on […]
Confidential transfers allow merchants to provide confidentiality for transaction amounts to their consumers while maintaining visibility for regulatory purposes.
PayPal’s PYUSD stablecoin, which was recently deployed on Solana, will offer “confidential transfers” as an additional feature.
On May 29, payments platform PayPal announced that it had deployed its PYUSD dollar-pegged stablecoin on Solana, having only previously been available on Ethereum.
One notable extension initialized for PYUSD is “confidential transfers,” which will allow merchants to “provide confidentiality for transaction amounts to their consumers while maintaining visibility for regulatory purposes,” according to a May 29 Solana blog post.
Payments giant PayPal says that its stablecoin, PayPalUSD (PYUSD), is expanding onto the blockchain of smart contract platform Solana (SOL). In a new company press release, PayPal says that the dollar-pegged crypto asset PYUSD – which launched in August 2023 in collaboration with the Paxos Trust Company – is now available on Solana, making it […]
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Asset management titan BlackRock is leading a new fundraising round for Securitize, a US company geared towards the tokenization of real-world assets. According to a new press release, Securitize has completed a $47 million funding round led by BlackRock, which has over $10 trillion of assets under its management and is the largest asset manager […]
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Despite potential price fluctuations on different trading venues, USDP will always remain redeemable for $1 on Paxos, a spokesperson told Cointelegraph.
The recent depegging of the Pax Dollar (USDP) stablecoin was caused by issues with pricing aggregators, not the protocol itself, according to a Paxos spokesperson
The Pax Dollar’s price briefly surged to $1.29 on April 16 before returning to $1 within three hours of the depeg, according to CoinMarketCap data.
A Paxos spokesperson told Cointelegraph:
A New York financial regulator is ordering crypto firm Genesis Global Trading to pay an $8 million fine after it was found to be in violation of the law. In a new press release, the New York State Department of Financial Services (DFS) says that the crypto trading branch of the Digital Currency Group (DCG) […]
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