Paxos International’s blockchain and tokenization platform has received full regulatory approval from the Monetary Authority of Singapore (MAS).
Paxos’ Singapore branch, the issuer of the gold-backed Bitcoin stablecoin Pax Gold (PAXG), has been authorized as a major payment institution to provide digital payment token services.
The regulatory approval allows Paxos to launch stablecoins under the upcoming MAS regulatory framework.
According to a January X announcement, this approval marks Paxos entities’ third international market authorized to issue stablecoins, following the United States and the United Arab Emirates.
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According to
Information
Singapore’s largest bank by assets, DBS Bank, will be Paxos’ primary banking partner.
