Since the Canton Network’s inception, 155 participants from 45 major organizations have settled real-world assets across 22 blockchains.
Paxos News
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The approval followed a similar move by regulators in Singapore, where Paxos said its local entity would launch a U.S. dollar-backed stablecoin.
2565The 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.
3420PayPal launched its U.S. dollar-backed stablecoin in August 2023.
7236Chun’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.”
8388The 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, a Paxos report states.
2688Paxos has earlier said it would halt support of Binance’s stablecoin by February; now the exchange has said it will also stop support by that time.
19793The move provides PAX coin access to Mexico’s 3.1 million-plus cryptocurrency users.
3340The new exchange does not custody customer funds itself to avoid a conflict of interest — and a hot-button issue with the SEC.
3500After a dip of over $1 billion in the past 30 days, BUSD now sits fourth in market capitalization among stablecoins.
11052A mainstream report citing multiple insiders claimed that Binance mingled customer’s funds with corporate funds at Silvergate Bank.
3659Tether and Circle have been leading lobbying efforts among stablecoin issuers as they push for legislation and regulations for stablecoins.
2628“We need more transparency over the reserves of these stablecoins, which I think we’re going to see,” Clara Medalie said.
13663Paxos assured its customers that their funds would “remain safely” in their accounts but advised users to withdraw all balances at their earliest convenience.
9569The supply of USDT across cryptocurrency exchanges has dropped 28% in 2023, hinting at an overall decline in demand for stablecoins.
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