Paxos Gains Full Regulatory Approval from MAS to Launch Stablecoins in Singapore

Paxos International, a blockchain and tokenization platform, has achieved full regulatory approval from the Monetary Authority of Singapore (MAS). Paxos’ Singapore branch, the issuer of the gold-backed stablecoin Pax Gold (PAXG), now has authorization to provide digital payment token services as a Major Payments Institution. This regulatory green light allows Paxos to launch a stablecoin in alignment with MAS’ forthcoming regulatory framework. This approval signifies Paxos’ entry into its third international market, following the United States and the United Arab Emirates, where Paxos-affiliated entities are permitted to issue stablecoins. This milestone was highlighted in a July 1 announcement. Walter Hessert,

Source: CryptoIntelligence