Paxos Secures Permission for Issuing Stablecoin in Singapore with DBS as Custodian
Tuesday, 2 July 2024, 09:39
Paxos Secures Regulatory Approval for Stablecoin Issuance
The Monetary Authority of Singapore has granted Paxos the permission to issue stablecoins within its regulatory framework.
DBS Bank to Provide Custody Services
DBS Bank is set to offer custody services for the stablecoins issued by Paxos, ensuring secure storage and management of digital assets.
Key Points:
- Paxos gains approval from the Monetary Authority of Singapore for stablecoin issuance
- DBS Bank to provide custody services for the stablecoins
- Enhanced trust and credibility in stablecoins as digital assets
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.