Paxos News

Stablecoin firm Paxos is worried that the adoption of its USDG stablecoin may be affected by global regulatory arbitrage related to stablecoins.

Paxos co-founder and CEO Charles Cascarilla said stablecoins pull people into Web3 because they solve problems.

Membrane Finance is the issuer of US dollar and euro stablecoins and has a passportable Finnish license.

Major firms from crypto and traditional finance have partnered to launch the Global Dollar Network, a regulation-compliant network designed to accelerate the adoption of stablecoins. 

Paxos launches USDG, a Singapore-compliant stablecoin, partnering with DBS Bank for US dollar reserves in line with Singapore’s MAS framework.

Paxos’ goal is to support assets and chains based on customers’ interests and its own end-user preferences, the company said.

The stablecoin issuer received an SEC Wells notice in February 2023 warning of a potential lawsuit over Binance USD as an unregistered security.

Paxos will partner with Southeast Asia’s largest bank, DBS, for the stablecoin launch.

The international arm of New York-based Paxos will issue a U.S. dollar-pegged stablecoin that will not be available in the United States.

Learn how PYUSD works, its benefits and how to buy, use and store this dollar-backed digital currency.

Former CFTC Chair J. Christopher Giancarlo founded the Digital Dollar Project and currently works as an advisory board member for the Chamber of Digital Commerce.

Despite potential price fluctuations on different trading venues, USDP will always remain redeemable for $1 on Paxos, a spokesperson told Cointelegraph.

Tensions in the Middle East ramped up over the weekend following an Iranian drone and missile attack, with the price of PAX Gold and Bitcoin reacting very differently in the aftermath.

Total PayPal USD in circulation amounted to $188.5 million in March, or 39% less than in February 2024.

Since the Canton Network’s inception, 155 participants from 45 major organizations have settled real-world assets across 22 blockchains.