{"id":25215,"date":"2023-12-22T20:13:39","date_gmt":"2023-12-22T20:13:39","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/paxos-receives-nod-to-expand-its-stablecoin-to-solana\/"},"modified":"2023-12-22T20:13:39","modified_gmt":"2023-12-22T20:13:39","slug":"paxos-receives-nod-to-expand-its-stablecoin-to-solana","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/paxos-receives-nod-to-expand-its-stablecoin-to-solana\/","title":{"rendered":"Paxos receives nod to expand its stablecoin to Solana"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676279088944-437c80d8-2abb-432c-bf8b-21f44ac7d43f-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676279088944-437c80d8-2abb-432c-bf8b-21f44ac7d43f-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676279088944-437c80d8-2abb-432c-bf8b-21f44ac7d43f-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676279088944-437c80d8-2abb-432c-bf8b-21f44ac7d43f-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Paxos has expanded to Solana, the first expansion for its USDP stablecoin to a new blockchain.<\/li>\n<li dir=\"ltr\">The regulated company will issue its stablecoin on Solana starting January 17, 2024.<\/li>\n<\/ul>\n<p dir=\"ltr\">Stablecoin issuer <a href=\"https:\/\/coinjournal.net\/news\/tag\/paxos\/\"><u>Paxos<\/u><\/a> has expanded its stablecoin issuance to the Solana blockchain, marking the company\u2019s second blockchain integration after Ethereum.\u00a0<\/p>\n<p dir=\"ltr\">The firm\u2019s Pax Dollar (USDP) <a href=\"https:\/\/coinjournal.net\/news\/tag\/stablecoin\/\"><u>stablecoin<\/u><\/a> is planned for mainnet integration with <a href=\"https:\/\/coinjournal.net\/solana\/\"><u>Solana<\/u><\/a> on January 17, 2024, according to details in a blog post published on December 22.<\/p>\n<p dir=\"ltr\">According to Paxos, the strategic expansion to a new blockchain \u201crepresents a significant milestone\u201d in its innovation and evolution.<\/p>\n<p dir=\"ltr\">\u201cThe expansion of our stablecoin platform to support Solana marks an important step towards making stablecoins ubiquitous for everyday consumers,\u201d Paxos head of strategy Walter Hessert, said. \u201cPaxos has set the standard for oversight, reserve management and issuance in the stablecoin market. By integrating USDP with Solana, we\u2019re making it easier for anyone to get and use the safest, most reliable stablecoins.\u201d<\/p>\n<h2 dir=\"ltr\">Paxos also issues PYUSD and PAXG<\/h2>\n<p dir=\"ltr\">Paxos is regulated in the US by the New York Department of Financial Services (NYDFS) and in Singapore by the country\u2019s central bank the Monetary Authority of Singapore (MAS). Paxos Trust Company was granted the BitLicense in May 2015.<\/p>\n<p dir=\"ltr\">In November this year, Paxos <a href=\"https:\/\/coinjournal.net\/news\/paxos-receives-two-new-in-principle-approvals-in-abu-dhabi\/\"><u>announced<\/u><\/a> it had received two preliminary approvals for stablecoin issuance in Abu Dhabi.<\/p>\n<p dir=\"ltr\">Today\u2019s announcement reportedly comes after NYDFS granted it a regulatory greenlight.<\/p>\n<p dir=\"ltr\">Other than USDP, Paxos also issues PayPal USD (PYUSD) and Pax Gold (PAXG). In June this year, the NYDFS order the stablecoin issuer to halt issuance of the Binance USD (BUSD) stablecoin. Paxos later announced it had ended its relationship with crypto exchange Binance.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/paxos-expands-its-stablecoin-to-the-solana-blockchain\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Paxos has expanded to Solana, the first expansion for its USDP stablecoin to a new blockchain. The regulated company will issue its stablecoin on Solana starting January 17, 2024. Stablecoin issuer Paxos has expanded its stablecoin issuance to the Solana blockchain, marking the [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":25216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25215"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=25215"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25215\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/25216"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=25215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=25215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=25215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}