Singapore's DBS Group Holdings partners with Paxos Trust Co. for stablecoin custody and cash management services.
Singapore's largest bank, DBS Group Holdings Ltd., has partnered with Paxos Trust Co., the local unit of cryptocurrency issuer Paxos, to custody stablecoin reserves and offer related cash management services. This move deepens DBS' involvement in the digital asset ecosystem, as Paxos recently received a license from Singapore's Monetary Authority. Paxos is now authorized to issue stablecoins in the U.S., United Arab Emirates, and Singapore.
July 01, 2024
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