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Paxos Secures Full Approval to Offer Digital Payment Token Services from Monetary Authority of Singapore; DBS to be Primary Banking Partner [Yahoo! Finance]
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US:NASDAQ Investor Relations: investor.paypal-corp.com
DBS selected as primary banking partner for cash management and custody of stablecoin reserves SINGAPORE July 1, 2024 /PRNewswire/ -- Paxos, the leading regulated blockchain & tokenization infrastructure platform, received full approval from the Monetary Authority of Singapore (MAS) for its Singapore entity, Paxos Digital Singapore Pte. Ltd. to offer digital payment token services as a Major Payments Institution. The approval enables Paxos to issue stablecoins in line with MAS' upcoming stablecoin framework. With the approval, Singapore becomes the third market, alongside the US and United Arab Emirates , that Paxos and its related entities are authorized to issue stablecoins, showcasing a commitment to expanding access to regulated, secure stablecoins worldwide. This also highlights how stablecoin issuance and operation under prudential regulatory oversight is possible when a company is committed to protecting consumers. Walter Hessert , Head of Strategy at Paxos, said: "Stabl
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- With 71% institutional ownership, PayPal Holdings, Inc. (NASDAQ:PYPL) is a favorite amongst the big guns [Yahoo! Finance][Yahoo! Finance]
- Why Is PayPal Holdings, Inc. (PYPL) the Best Undervalued Stock to Buy Now? [Yahoo! Finance][Yahoo! Finance]
- Stablecoin Issuer Paxos Names Lim Executive Director in Singapore [BNN Bloomberg (Canada)][BNN Bloomberg]
- PayPal Holdings, Inc. (NASDAQ: PYPL) was upgraded by analysts at Susquehanna from a "neutral" rating to a "positive" rating. They now have a $71.00 price target on the stock.[MarketBeat]
- Paxos Gains Singapore Approval for Stablecoin Issuance With DBS Providing Custody [Yahoo! Finance][Yahoo! Finance]
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