Paxos News

JPMorgan, Citigroup and Bank of America are all in the early stages of stablecoin development.

Launched in November 2024, the USDG stablecoin has a total circulating supply of around $356 million.

Paxos launched the Global Dollar stablecoin in the EU, claiming MiCA compliance and support from Kraken, Robinhood and Mastercard under the GDN initiative.

Gold-backed cryptos like Tether Gold and Paxos Gold have risen around 7% in the past month as investors seek safe haven assets.

PayPal will offer a 3.7% yield on PYUSD to boost usage, with monthly rewards paid in the stablecoin, according to a Bloomberg report.

Coinbase confirmed it is considering applying for a US federal bank charter amid moves by crypto firms to integrate with the traditional financial system.

Major crypto firms, including Circle, BitGo, Coinbase and Paxos, are exploring bank charters amid evolving US stablecoin regulations, according to The Wall Street Journal.

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.