The approval from MAS also marks Singapore as the third market where Paxos and its related entities are authorised to issue stablecoins. Coupled with its presence in the US and the UAE, Paxos is set for worldwide expansion.
Leading digital asset platform Paxos has received full approval from the Monetary Authority of Singapore (MAS) for its Singapore entity, Paxos Digital Singapore to offer digital payment token services as a Major Payments Institution.
The approval enables Paxos to issue stablecoins within the country, in line with the central bank’s upcoming stablecoin framework.
