Paxos Receives Preliminary Approval to Offer Digital Payment Services in Singapore
Paxos has received preliminary approval from regulators in Singapore to offer digital payment token services. The approval allows Paxos to operate under the Payments Services Act while awaiting full approval. Once approved, Paxos plans to partner with enterprise clients to issue a U.S. dollar-backed stablecoin, addressing the global demand for the dollar.
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Paxos Receives Preliminary Approval to Offer Digital Payment Services in Singapore
Paxos has received preliminary approval from regulators in Singapore to offer digital payment token services. The approval allows Paxos to operate under the Payments Services Act while awaiting full approval. Once approved, Paxos plans to partner with enterprise clients to issue a U.S. dollar-backed stablecoin, addressing the global demand for the dollar.