Paxos is proud to announce it has secured its formal license from the Monetary Authority of Singapore (MAS) for its Singapore entity. This is a Major Payments Institution License, making Paxos the first US company to secure full Major Payments Institution licensing in Singapore.
Binance USD (BUSD) was launched in September 2019. BUSD has reached the $10 billion milestone, ranking 10th in the entire crypto market and 3rd among stablecoins by market cap, making it the fastest growing stablecoin in the space. BUSD was created in partnership between Binance and Paxos, aimed at combining the trust of the Paxos platform with the utilization opportunities of Binance and the greater crypto ecosystem.
BUSD is the first 1:1 US dollar-backed white-label stablecoin that is approved by a regulator.
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