[Stablecoin issuer Paxos will integrate with Arbitrum Network]
Paxos will integrate Arbitrum, the Ethereum second-layer scaling solution, to expand its coverage in the Ethereum ecosystem and promote institutional adoption of physical assets on the chain. This is the first time Paxos has cooperated with the second-layer network, aiming to accelerate the on-chain application of physical assets and improve the accessibility of digital assets to enterprises.
Arbitrum has over $2.5 billion allocated and has over 520,840 active addresses, according to DefiLlama. The head of strategy at Paxos said the partnership will drive rapid adoption of stablecoins over the next three years.
The integration comes after the SEC investigation into Paxos concluded. Previously, the SEC accused the Binance stablecoin BUSD issued by Paxos of being an unregistered security and ordered a halt to minting. As the investigation concludes, Paxos will focus on new projects.
