Singapore's largest bank, DBS Group, will provide escrow services to stablecoin emitter Paxos. Paxos has received full approval from the Monetary Authority of Singapore (MAS). 🎉 DBS Bank, we are pleased to support Paxos' new chapter in Singapore. Trust and security are key to wider acceptance of stablecoin. Paxos has cut 20% of its staff as it gains access to its third market after the US and UAE. Paxos focuses on regulated blockchain infrastructure and has raised approximately $540 million in funding from multiple investors.