Jesse A. Ellis October 16, 2024 11:22am
Paxos announced its integration with Stellar Network at Meridian 2024, with the aim of accelerating institutional adoption of stablecoins and strengthening global financial access.
Paxos, a prominent blockchain infrastructure and tokenization platform, has revealed plans to integrate with the Stellar network, according to Paxos. The partnership, announced at Meridian 2024, Stellar’s annual conference, aims to expand Paxos’ reach and strengthen its tokenization platform within the blockchain ecosystem.
Promote adoption within facilities
The partnership between Paxos and Stellar is poised to accelerate the institutional adoption of stablecoins issued by prudentially regulated entities. This move is considered essential to expanding the use and utility of the digital dollar globally. Charles Cascarilla, CEO and co-founder of Paxos, expressed enthusiasm: “We are excited to partner with Stellar to make trusted stablecoins more accessible to institutions around the world.”
Stellar’s role in tokenization
Denelle Dixon, CEO of the Stellar Development Foundation, emphasized the importance of Paxos joining the Stellar ecosystem. “As a trusted, regulated financial institution, Paxos is an exciting addition to the Stellar ecosystem,” said Dixon. He further highlighted Stellar’s leadership in tokenization due to its speed, low cost, and robust functionality.
Regulated and trusted products
Paxos prides itself on providing highly regulated tokenization solutions that ensure compliance with financial regulations across various geographies. The company’s platform supports the digital asset infrastructure needs of leading enterprises and institutions. With plans to bring assets to the Stellar network by the second half of 2024, Paxos aims to strengthen its position in the global financial landscape.
About Paxos
Paxos is a leading regulated blockchain infrastructure provider known for its efforts to replatform the financial system. By enabling instant asset movement around the world, Paxos partners with industry leaders such as PayPal, Mastercard, and Nubank. The company is licensed by the New York Department of Financial Services and operates around the world with significant investment from top venture capital firms.
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