Blockchain and tokenization infrastructure platform Paxos today announced a strategic expansion of its stablecoin issuance to the Solana blockchain platform.
Previously exclusive to Ethereum, this initiative represents a significant milestone for the innovation and evolution of Paxos’s enterprise and consumer-facing businesses. Paxos plans to offer USDP on Solana to the public on January 17, 2024.
The Solana blockchain offers users rapid transaction rates and lower transaction fees, which makes it a compelling network for US dollar stablecoins and payments. By broadening its reach to Solana, Paxos is reaffirming its commitment to providing seamless and efficient financial solutions in the constantly-evolving blockchain space. USDP is known for its reliability and customer security and it will benefit from the high-performance architecture of Solana.
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