Stablecoin issuer Paxos can now provide crypto services to local companies after getting regulatory approval in Singapore.
. The stablecoin issuer said the regulatory approval would help support its partners in expanding services into Asia.
“We’re excited to have MAS as our regulator, and with their oversight, we’ll be able to safely accelerate consumer adoption of digital assets globally by powering regulated solutions for the world’s biggest enterprises,” said Paxos Asia co-founder and CEO Rich Teo. Paxos was one of the first crypto firms to receive a BitLicense allowing it to operate in New York, as well as a charter from the New York Department of Financial Services in 2015 while operating under the name ItBit. In April 2021, the United States Office of the Comptroller of the Currency
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