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Paxos Integrates Stablecoins with Arbitrum Layer 2

Paxos' integration with Arbitrum enhances stablecoin utility, promoting digital asset adoption and clearing regulatory hurdles following the SEC's investigation.

1 min 25 secSeptember 10, 2024

Highlights:

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Expands access to 520,000+ active addresses on Arbitrum.

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Streamlines tokenization of real-world assets for businesses.

Paxos Integrates Stablecoins with Arbitrum Layer 2

Stablecoin issuer Paxos has announced its integration with Arbitrum, the leading Layer 2 scaling solution on Ethereum, marking a significant step towards enhancing institutional adoption of on-chain assets. 

 

 

This partnership will allow Paxos to leverage Arbitrum's high-speed, low-cost infrastructure to facilitate the tokenization of real-world assets, thereby increasing the utility of digital assets for businesses and institutions.

 

With over 520,000 active addresses and nearly 700 decentralized applications (dApps), Arbitrum provides a robust ecosystem for Paxos to expand its reach within the Ethereum network. 

 

The integration is expected to streamline transactions and reduce costs, making it easier for enterprises to adopt blockchain technology. Luke Xiao, Fintech Partnership Lead at Arbitrum, emphasized the transformative potential of this collaboration, stating that it would significantly impact the decentralized finance (DeFi) landscape.

 

 

Paxos' move comes on the heels of the U.S. Securities and Exchange Commission (SEC) concluding its investigation into the company regarding its issuance of Binance USD (BUSD), which was previously labeled an "unregistered security." 

 

With regulatory hurdles now cleared, Paxos is poised to accelerate the growth of its stablecoin offerings, including Pax Dollar (USDP) and PayPal USD (PYUSD), further driving the adoption of digital assets across various sectors.

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