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.