Paxos has received full approval from the Monetary Authority of Singapore (MAS) to issue stablecoins. The company plans to issue a stablecoin that will be substantively compliant with MAS' upcoming stablecoin framework. Singapore's largest bank, DBS Group, will provide custodial services for Paxos and serve as its primary banking partner. This approval from Singapore's central bank marks a significant step for Paxos in expanding its digital payment token services in Singapore.
Paxos received full approval to offer digital payment token services from the Monetary Authority of Singapore 🇸🇬 We plan to issue a stablecoin substantively compliant with MAS’ upcoming stablecoin framework, with @dbsbank as our primary banking partner. https://t.co/5pMNxjQ9YP
📣 Latest News: Paxos gains approval for Singapore stablecoin launch with DBS partnership #news #cryptonews #crypto #stablecoins
Paxos approved to issue stablecoins in Singapore https://t.co/VsCLAHjayA
Singapore's largest bank DBS Group will provide custodial services for Paxos as the stablecoin issuer secured full approval from the Monetary Authority of Singapore https://t.co/xlnUBCbtkk
Paxos receives full approval from Singapore's central bank to issue stablecoins, partners with DBS Bank https://t.co/3tu3OecJCD