Paxos Digital Singapore Pte. LTD. has received approval from Singapore’s central bank to offer digital payment token services, allowing the company to issue stablecoins compliant with local regulations. This significant milestone expands Paxos’ global footprint and strengthens its partnership with DBS Bank. The Monetary Authority of Singapore (MAS) has granted Paxos the status of a major payment institution, joining an elite group of 19 entities authorized under the country’s stringent financial regulatory environment. This approval enhances Paxos’ ability to provide U.S. dollar stablecoins to a broader global audience, further integrating cryptocurrency into mainstream financial services.
