Global #Paxos

According to unconfirmed reports, the cryptocurrency firm Paxos is seeking a U.S. trust bank license. This move could significantly broaden its operations and influence in the stablecoin market, though the company has not yet made an official announcement or filing.

PayPal's stablecoin, PayPal USD (PYUSD), appears to have quietly gone live on the Ethereum Layer 2 network Arbitrum.

Paxos has officially launched USDG, a new stablecoin backed by real U.S. dollars, enhancing trust and stability for users.

In an open letter addressed to Vice President Kamala Harris and former President Donald Trump, Charles Cascarilla, CEO and co-founder of Paxos, emphasized the critical need for the next presidential administration to adopt digital assets and reform outdated financial regulations.

In a notable transaction, a wallet linked to Ethereum co-founder Vitalik Buterin, identified as “0x556,” recently made a final deposit of 649 ETH, valued at approximately $1.72 million, to Paxos.

Arbitrum, a leading Layer 2 scaling solution, is set to enhance its offerings with the integration of Paxos's stablecoin issuance and regulated tokenization services.