Blockchain and tokenization infrastructure platform Paxos has secured in-principle approvals of the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM) for the necessary Financial Services Permissions to issue US dollar and other currency-backed stablecoins, as well as to offer crypto-brokerage and custody services from two regulated ADGM entities.
Upon receiving full approval, Paxos will continue to expand the global footprint of their regulated USD-backed stablecoins.
By securing oversight for its custody and digital asset infrastructure solutions, Paxos services that are provided out of the ADGM will be comprehensively regulated by the FSRA.
Walter Hessert, Paxos Head of Strategy, commented:
“Blockchain technology is revolutionizing the global financial…
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