Stablecoin issuer Paxos has expanded onto the Solana (SOL) network, becoming the first multi-chain platform regulated across multiple jurisdictions.
The New York-based cryptocurrency company said in a new press release that, after working exclusively with leading smart contract platform Ethereum (ETH), it will now launch dollar-pegged cryptocurrency asset Pax Dollar (USDP) on the Solana blockchain. He said it would be. .
“Paxos, a leading regulated blockchain and tokenization infrastructure platform, is pleased to announce the strategic expansion of stablecoin issuance to the Solana blockchain platform.
This initiative, previously exclusive to Ethereum, represents an important milestone for the innovation and advancement of Paxos’ enterprise and consumer-facing businesses.”
Pax Dollar is available through the Solana blockchain. start As of January 17, 2024, Solana Foundation.
“Paxos’ expansion of the Solana blockchain expands Solana’s growing payments ecosystem, and Paxos’ USDP stablecoin is planned to be publicly available starting January 17, 2024.”
Solana co-founder Raj Gokal said in a press release:
“Paxos’ decision to introduce stablecoin issuance on the Solana blockchain highlights how Solana’s high-performance network and low transaction fees will support regulated financial products and provide leaders like Paxos with new ways to scale and innovate. We’ll show you if you can.
The Solana network will enable Paxos to further advance its vision of a more open and financially empowering future.”
Solana is trading at $96.62 at the time of writing, up 4.05% in the last 24 hours.
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