Paxos receives approval to expand its stablecoin to the Solana blockchain
The New York Department of Financial Services just approved the move and set confirmation for January 17, 2024. Solana co-founder Raj Gokal sees this as a step towards a financial future. He highlights how Solana's efficient network and low costs can help regulated financial products like Paxos grow and innovate.
The USDP stablecoin was previously only available on the Ethereum blockchain. Previously, Paxos stopped supporting and issuing BUSD after the ban by the same New York Department of Financial Services.
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