Paxos And USDC Issuer Circle Receive Regulatory Approval From Singapore

In a recent development, the stablecoin issuers Circle and Paxos have received approvals in Singapore. According to the report, the Monetary Authority of Singapore (MAS) signed the licenses for the firms.

Timeline of Paxos-standard, Usd-coin

On November 2, the Monetary Authority of Singapore (MAS) approved Paxos' license and granted in-principle approval to Circle. The post Circle, Paxos secure regulatory approval from Singapore financial watchdog appeared first on CryptoSlate.

Paxos has plans to hire at least 130 people for its Singapore office after receiving a license to offer digital payment token services. The post Paxos granted Singapore license, plans to hire at least 130: Bloomberg appeared first on The Block.

Stablecoin issuers Circle and Paxos have won approvals for their respective licences from the Monetary Authority of Singapore. The approvals received will help these firms offer crypto-related services in Singapore, which has lately been emerging as one of the leading financial hubs of the world.

Volatility is one of the distinguishing attributes of the crypto market that springs surprises in several observers. It creates a desirable environment for traders and investors in the crypto industry to advance with huge profits.

After last week's strong market rally, the cryptocurrency market has taken a bit of pause holding above the $1 trillion valuation. To understand what could be the market activity ahead, it will be crucial to spot the activity of stablecoins like USDT and USDC.

Since the Tornado Cash affair, Circle's USDC stablecoin's market valuation has fallen precipitously. The market capitalization of USD Coin (USDC), which fell from $53.3 billion to just under $43.9 billion during the previous month, has decreased by almost 20%.

Coinbase has announced commission-free trading for those who buy USDC with non-USD fiat currency in a bid to increase its use outside the United States. The post Coinbase Looking Outside the US To Grow USDC Stablecoin appeared first on BeInCrypto.

In a move to support the adoption of USDC, the Circle issued dollar-based stablecoin, Coinbase (NASDAQ:COIN) has waived commission fees when buying or selling USDC via any fiat currency on Coinbase, “from AUD to ZAR.

Payments giant MasterCard is set to launch a new program in collaboration with crypto-exchange Paxos. This new venture will aid financial institutions in offering crypto-trading services to their clients.

Payment giant Mastercard is joining hands with New York-headquartered blockchain tech firm Paxos to launch a program that will make it easier for traditional financial institutions to offer cryptocurrency trading by providing regulatory compliance and security.