Paxos-Backed Assets Reach $6.6B Amid Rising Demand for Regulated Stablecoins
Paxos Milestone: Paxos has reached approximately $6.6 billion in total issued digital assets, driven by institutional demand for compliant, dollar-backed cryptocurrencies, with PayPal USD (PYUSD) leading at a $3.87 billion market cap.
Regulatory Approval: The company received federal banking approval from the Office of the Comptroller of the Currency, enhancing its regulatory standing and allowing it to operate as a national trust charter.
Multi-Chain Adoption: Paxos has expanded its stablecoin offerings across multiple blockchain networks, including Ethereum and Solana, demonstrating broad adoption and a diverse partner ecosystem with over 100 partners.
Institutional Growth: The combination of federal oversight, institutional-grade custody, and a robust economic model for its stablecoins positions Paxos for continued growth as traditional finance increasingly engages with cryptocurrency markets.
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