Standard Chartered Bank will provide cash management, trading and custodial services for stablecoins issued by Paxos outside the United States

On December 12, Standard Chartered Bank announced that it will provide cash management, trading and custody services for stablecoins issued by Paxos outside the United States.

It is reported that Paxos has issued Lift Dollar (USDL) in Abu Dhabi with a market value of 54 million US dollars, and Global Dollar (USDG) in Singapore with a market value of 29 million US dollars.

John Collura from Standard Chartered Bank said: "Our cooperation with Paxos reflects Standard Chartered's commitment to trust and innovation in the future of digital finance. By providing strong cash management, trading and custody services, we support next-generation secure and regulated digital asset solutions in promoting global adoption and economic inclusivity."