Paxos gets the greenlight to issue stablecoins in Abu Dhabi
Stablecoin issuer Paxos has received in-principle approvals from the Financial Services Regulatory Authority to issue stablecoins in Abu Dhabi. Paxos, a cryptocurrency brokerage firm and stablecoin issue r, has secured two in-principle approvals of the Financial Services Regulatory Authority in Abu Dhabi. According to a press release on Nov. 29, 2023, the greenlight from the regulator allows the firm to issue U.S. dollar and other currency-backed stablecoins . The New York-headquartered company can now also offer crypto-brokerage and custody services in the region. “Our in-principle approvals from the Financial Services Regulatory Authority, on the heels of our in-principle approval from the Monetary Authority of Singapore, solidify our commitment to pursuing international growth through regulated frameworks.” Paxos Head of Strategy, Walter Hessert You might also like: Paxos to issue USD stablecoin in Singapore The expansion in Abi Dhabi comes just a few ...