Tag: Paxos Digital Singapore

Paxos Receives In-Principle Approval For USD-Backed Stablecoin in Singapore

Compliance Mark Lagarde - November 16, 2023

Paxos, a US-based fintech focused on blockchain and tokenization infrastructure, has secured the regulatory in principle approval (IPA) from the Monetary Authority of Singapore (MAS) for its new Singapore entity, Paxos Digital Singapore Pte. Ltd., to offer digital payment token services. The Singapore entity will issue a new US dollar stablecoin fully backed 1:1 by the US Dollar and cash equivalents.

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