Paxos Granted Approval to Issue Stablecoins and Conduct Digital Asset Services in Abu Dhabi
Paxos has received preliminary approval from Abu Dhabi's regulator to issue stablecoins and provide digital asset services. The Financial Services Regulatory Authority in the Abu Dhabi Global Market granted Paxos in-principle approval to issue U.S. dollar-backed stablecoins and offer crypto-brokerage and custody services in the Emirate. This follows a similar approval from regulators in Singapore, where Paxos plans to launch a U.S. dollar-backed stablecoin. Paxos plans to expand the use of its stablecoins upon full approval and emphasizes transparency regarding its stablecoin reserves.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New spot margin trading pair — HOLO/USDT!
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn
- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.
OPEN has dropped by 189.51% within 24 hours during a significant market pullback
- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.
New spot margin trading pair — LINEA/USDT!
Trending news
MoreCrypto prices
More
