The approval followed a similar move by regulators in Singapore, where Paxos said its local entity would launch a U.S. dollar-backed stablecoin.
Category: Paxos
Auto Added by WPeMatico
Paxos to issue USD stablecoin in Singapore, wins initial approval
The USD-backed token will comply with Singapore’s upcoming stablecoin laws and be issued through a new local Paxos entity that’s received initial approval.
Crypto.com to become preferred exchange for PayPal USD
PayPal launched its U.S. dollar-backed, Ethereum-built stablecoin in August 2023.
Bitcoin miner mulls refunding 20 BTC reward to Paxos
Chun’s reservations about whether to return the funds to Paxos stems from him being “annoyed” that “the person claiming it (the funds) kept saying EST instead of EDT/UTC.”
Paxos confirms it’s responsible for $500K mistaken Bitcoin transaction
The account that paid $500,000 to move $2,000 worth of Bitcoin was a Paxos server, the company stated.
PayPal PYUSD stablecoin is 100% backed: Paxos transparency report
The total assets held in PayPal USD custody “meet or exceed the token balance,” with total tokens outstanding amounting to $44.4 million as of Aug. 31, Paxos report states.
Binance pushes new stablecoin as it confirms plan to cease BUSD support
Paxos has earlier said it will halt support of Binance’s stablecoin by February 2024, now the exchange has said it will also stop support by that time.
Paxos and MercadoLibre partner up to bring USDP to Mexico
The move provides PAX coin access to Mexico’s 3.1 million-plus cryptocurrency users.
Powered by WPeMatico
New exchange EDX reportedly switching out Paxos’ custody services for Anchorage’s
The new exchange does not custody customer funds itself to avoid a conflict of interest — and a hot-button issue with the SEC.
Powered by WPeMatico
BUSD falls to fourth position among stablecoins
After a dip of over $1 billion in the past 30 days, BUSD now sits at the fourth position in market capitalization among stablecoins.
Powered by WPeMatico