As per CoinMarketCap news, With this regulatory approval, Paxos plans to launch its first product in the Solana ecosystem on January 17, 2024. Pax Dollar will be offered to users as a US-backed stablecoin product. As reported by Fortune, Paxos strategy director Walter Hessert announced that after a comprehensive and detailed review, Paxos decided not to object to expanding USDP from Ethereum to Solana. The institution’s review focused on the internal risk framework of the Solana ecosystem.
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