New York regulator allows Paxos to issue stablecoin on Solana network
Happycoin.club - Stablecoin issuer Paxos received approval from the New York regulator to expand its activities on the Solana blockchain, although the organization had previously received restrictions on operating on the Ethereum network.
Paxos said the approval from the New York Department of Financial Services "represents an important milestone for the innovation and growth of the organization's enterprise and consumer businesses."
The financial technology company said it plans to issue a USDP stablecoin backed by the US dollar on Solana. It is separately noted that the Solana blockchain has high transaction speeds and low transfer fees.
