The firm is set to launch USDP on the Solana blockchain on January 17, 2024.
Solana's speed and low fees make it an appealing platform for US dollar stablecoins and payments.
Paxos,
a regulated blockchain and tokenization infrastructure platform, has announced
a strategic move to broaden its stablecoin issuance to the Solana blockchain
platform. Previously exclusive to Ethereum, this expansion marks a milestone
for Paxos's enterprise and consumer-focused operations.
Paxos
Sets Date for Public Launch of USDP on Solana
The
introduction of USDP on Solana, scheduled for January 17, 2024, aligns with
Paxos's commitment to delivering seamless and efficient financial solutions in
the dynamic blockchain landscape.
Walter Hessert, the Head of Strategy at Paxos, commented: “The expansion of our stablecoin
platform to support Solana marks an important step towards making stablecoins
ubiquitous for everyday consumers. Paxos has set the standard for oversight,
reserve management and issuance in the stablecoin market. By integrating USDP
with Solana, we’re making it easier for anyone to get and use the safest, most
reliable stablecoins.”
Solana's
high-speed transaction capabilities and lower fees make it an attractive
platform for US dollar stablecoins and payments. Paxos aims to leverage
Solana's performance architecture to enhance the reliability and customer
security of USDP, reinforcing its position as a key player in the evolving
blockchain industry.
Raj Gokal, the Co-Founder of Solana, commented: “Paxos’s decision to bring
stablecoin issuance to the Solana blockchain will showcase how Solana’s
high-performance network and low transaction fees can support regulated
financial products and provide leaders like Paxos new ways to scale and
innovate. The Solana network will enable Paxos to further its vision for a more
open and financially empowering future.”
Global
Expansion for Stablecoin Operations
Earlier,
Finance Magnates reported that Paxos
secured in-principle approval from the Abu Dhabi Global Market's Financial
Services Regulatory Authority. This milestone allows Paxos to issue USD and
other currency-backed stablecoins and offer crypto-brokerage and custody
services through regulated ADGM entities. Pending full approval, Paxos plans to
expand the global reach of its regulated USD-backed stablecoins, emphasizing
regulatory compliance, transparency, and adherence to AML and KYC standards.
This
achievement adds to Paxos' regulatory approval from New York, Singapore, and
ADGM, reinforcing its commitment to international growth through regulated
frameworks. Paxos aims to leverage blockchain for a more open and secure global
financial system, providing increased access and freedom.
Additionally,
Paxos recently secured in-principle approval from the Monetary Authority of Singapore, enabling the expansion of its digital asset services in Asian
markets.
Paxos,
a regulated blockchain and tokenization infrastructure platform, has announced
a strategic move to broaden its stablecoin issuance to the Solana blockchain
platform. Previously exclusive to Ethereum, this expansion marks a milestone
for Paxos's enterprise and consumer-focused operations.
Paxos
Sets Date for Public Launch of USDP on Solana
The
introduction of USDP on Solana, scheduled for January 17, 2024, aligns with
Paxos's commitment to delivering seamless and efficient financial solutions in
the dynamic blockchain landscape.
Walter Hessert, the Head of Strategy at Paxos, commented: “The expansion of our stablecoin
platform to support Solana marks an important step towards making stablecoins
ubiquitous for everyday consumers. Paxos has set the standard for oversight,
reserve management and issuance in the stablecoin market. By integrating USDP
with Solana, we’re making it easier for anyone to get and use the safest, most
reliable stablecoins.”
Solana's
high-speed transaction capabilities and lower fees make it an attractive
platform for US dollar stablecoins and payments. Paxos aims to leverage
Solana's performance architecture to enhance the reliability and customer
security of USDP, reinforcing its position as a key player in the evolving
blockchain industry.
Raj Gokal, the Co-Founder of Solana, commented: “Paxos’s decision to bring
stablecoin issuance to the Solana blockchain will showcase how Solana’s
high-performance network and low transaction fees can support regulated
financial products and provide leaders like Paxos new ways to scale and
innovate. The Solana network will enable Paxos to further its vision for a more
open and financially empowering future.”
Global
Expansion for Stablecoin Operations
Earlier,
Finance Magnates reported that Paxos
secured in-principle approval from the Abu Dhabi Global Market's Financial
Services Regulatory Authority. This milestone allows Paxos to issue USD and
other currency-backed stablecoins and offer crypto-brokerage and custody
services through regulated ADGM entities. Pending full approval, Paxos plans to
expand the global reach of its regulated USD-backed stablecoins, emphasizing
regulatory compliance, transparency, and adherence to AML and KYC standards.
This
achievement adds to Paxos' regulatory approval from New York, Singapore, and
ADGM, reinforcing its commitment to international growth through regulated
frameworks. Paxos aims to leverage blockchain for a more open and secure global
financial system, providing increased access and freedom.
Additionally,
Paxos recently secured in-principle approval from the Monetary Authority of Singapore, enabling the expansion of its digital asset services in Asian
markets.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!