Paxos, a leading blockchain and tokenization infrastructure platform, has partnered with Standard Chartered to improve the reserve management of its stablecoins, Global Dollar (USDG) and Lift Dollar (USDL). This strategic alliance aims to strengthen the infrastructure supporting trusted digital assets across Singapore and the United Arab Emirates.
Standard Chartered will provide essential services such as cash management, trading, and custody, in line with Paxos’ commitment to robust reserve management. The partnership emphasizes the importance of holding short-term, highly liquid US government securities and cash equivalents to maintain the 1:1 parity of stablecoins with the US dollar.
Both USDG and USDL are fully backed stablecoins issued under strict regulatory oversight. USDG complies with the Monetary Authority of Singapore’s upcoming framework. The collaboration highlights Standard Chartered’s role in offering comprehensive banking capabilities, simplifying access to Paxos’ stablecoins, and engaging with global regulators for digital asset custody solutions.
Paxos’ stablecoins, including USDG and USDL, are regulated and designed to prioritize the best interests of digital asset holders worldwide. This initiative reflects the broader trend of integrating traditional banking services with blockchain technology to enhance digital asset management and compliance.
The partnership between Paxos and Standard Chartered is a significant step towards advancing the stablecoin ecosystem, ensuring that digital assets remain secure, regulated, and accessible on a global scale.
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