Paxos International’s blockchain and tokenization platform has obtained comprehensive regulatory approval from the Monetary Authority of Singapore (MAS).
Paxos’ Singapore branch, as the issuer of gold-backed Bitcoin stablecoin Pax Gold (PAXG), has been approved to provide digital payment token services as a major payment institution.
The regulatory approval allows Paxos to launch stablecoins in accordance with the upcoming MAS regulatory framework.
According to the announcement on January 1st, this approval marks the third international market where Paxos entities have been authorized to issue stablecoins, following the United States and the United Arab Emirates.
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According to
information,
DBS Bank, the largest bank in Southeast Asia, will become a major banking partner of Paxos.
