Paxos Partners With Singapore’s DBS To Launch New Stablecoin

Quick Summary:

Blockchain infrastructure company Paxos, in conjunction with Singaporean bank DBS, has introduced a new stablecoin known as Global Dollar (USDG).

This development comes four months after Paxos secured approval to offer digital payment token services as a Major Payments Institution (MPI).

The blockchain company also served as the issuer of Binance stablecoin BUSD, prior to a cease order from the New York Department of Financial Services (NYDFS).

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Article Details

Author / Journalist: Semilore Faleti

Category: Crypto

Markets: HungarySingapore

Topics: Dbs MAS Stablecoin USDG Global Dollar Stablecoin Paxos

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-02 @ 19:00:29 (2 days ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 389 words

Reading Time: 3 minutes read

Sentences: 25 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 23371445

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Official Website: bitcoinist.com

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