Jessie A Ellis
Oct 16, 2024 11:22
Paxos has announced its integration with the Stellar network during Meridian 2024, with the goal of promoting institutional adoption of stablecoins and improving global financial accessibility.
Paxos, a leading platform in blockchain infrastructure and tokenization, has announced its intent to integrate with the Stellar network, as detailed by Paxos. This announcement was made at Meridian 2024, Stellar’s annual gathering, and it aims to extend Paxos’ reach while enriching its tokenization platform within the blockchain ecosystem.
Encouraging Institutional Adoption
The collaboration between Paxos and Stellar is expected to promote institutional adoption of stablecoins issued by prudently regulated entities. This initiative is seen as a critical step towards expanding the global use and utility of digital dollars. Paxos CEO and Co-Founder Charles Cascarilla expressed his excitement, stating, “We are thrilled to collaborate with Stellar to make reliable stablecoins more accessible to institutions around the world.”
Stellar’s Contribution to Tokenization
Denelle Dixon, CEO of the Stellar Development Foundation, underscored the importance of Paxos joining the Stellar ecosystem. “Paxos, as a regulated and trusted financial institution, is a welcome addition to the Stellar family,” Dixon remarked. She further noted Stellar’s leadership in tokenization, thanks to its speed, low cost, and strong capabilities.
Regulated and Reliable Offerings
Paxos takes pride in its highly regulated tokenization solutions, ensuring adherence to financial regulations across different regions. The company provides support for major enterprises and institutions in developing their digital asset infrastructures. With plans to launch assets on the Stellar network by late 2024, Paxos aims to fortify its position in the worldwide financial framework.
About Paxos
Paxos is a top regulated blockchain infrastructure provider dedicated to transforming the financial system. By enabling swift asset transfers globally, Paxos collaborates with industry leaders such as PayPal, Mastercard, and Nubank. Licensed by the New York Department of Financial Services, the company operates on a global scale, backed by substantial investments from leading venture capital firms.
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