TechFlow reports that stablecoin issuer Paxos has received full approval from the Monetary Authority of Singapore to issue stablecoins and will collaborate with DBS Bank.
Paxos' Singapore entity is now authorized as a Major Payment Institution to provide "digital payment token services." Additionally, Paxos announced a partnership with DBS Bank to manage cash handling requirements and custody of stablecoin reserves. This collaboration will expand DBS Bank's participation in the digital asset ecosystem.
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