Paxos receives two new in-principle approvals in Abu Dhabi
Paxos has received two in-principle approvals from the Financial Services Regulatory Authority in the Abu Dhabi Global Market (ADGM). The company will issue USD-pegged stablecoins as well as crypto brokerage and custody services. Blockchain infrastructure firm Paxos has scored another regulatory milestone as it expands its reach globally. On Wednesday, the New York-based company announced it had secured two preliminary approvals to issue stablecoins in Abu Dhabi. Paxos regulated in the Abu Dhabi Global Market Specifically, the Financial Services Regulatory Authority in the Abu Dhabi Global Market (ADGM) has granted Paxos two in -principle approvals not just for stablecoin issuance, but also for crypto brokerage and custody services. Paxos will offer these products and services via to FSRA-regulated entities. The agency will also regulate the stablecoin and tokenization company’s services offered out of the ADGM. “ Today’s announceme...