Paxos Set to Launch USD-Backed Stablecoin in Singapore
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Crypto company Paxos is expanding its presence by forming a new entity, Paxos Digital Singapore Pte. Ltd., to launch a USD-backed stablecoin in Singapore. The Monetary Authority of Singapore has granted in-principle approval for this initiative. Paxos plans to comply with Singapore’s stablecoin regulatory framework and issue a stablecoin in line with the regulatory amendments. Paxos is one of the two companies, alongside StraitsX, to receive approval from MAS for