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 <p class="is-style-lead">Leading tokenization platform Paxos has announced its expansion into the Solana blockchain, marking a significant move beyond its previous Ethereum exclusivity.&nbsp;</p>
 <p>The integration into Solana (SOL) is a strategic step for Paxos, given Solana’s reputation for high-speed transactions and lower fees. This move particularly benefits U.S. dollar <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a>s and payment processes, as Solana’s network offers an efficient and cost-effective environment. Paxos’s <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a>, USDP, is expected to leverage Solana’s robust architecture to enhance its performance further.</p>
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    <p lang="en" dir="ltr">2/ @Paxos’ expansion of their USDP <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a> <a rel="noopener noreferrer nofollow" title="issuance" href="https://thebittimes.com/tag/issuance.html">issuance</a> program, which was previously exclusive to Ethereum, now comes to the payments-friendly Solana blockchain, which <a rel="noopener noreferrer nofollow" title="Category Features" href="https://thebittimes.com/features.html">Features</a>:<br><br>Rapid transaction speed<br>Near-instant settlement<br> Negligible transaction fees…</p>— Solana (@solana) December 22, 2023
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 <p>Raj Gokal, co-founder of Solana, believes this collaboration will enable Paxos to continue its pursuit of a more open and financially inclusive future.</p>
 <p>The New York State Department of Financial Services regulates Paxos Trust Company LLC. The regulatory oversight ensures the integrity and security of its products and platform. USDP, like all Paxos <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a>s, maintains a full 1:1 backing by the U.S. dollar. The launch is scheduled for Jan. 17.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/paxos-expands-stablecoin-issuance-to-solana-tbt74553.html">https://thebittimes.com/paxos-expands-stablecoin-issuance-to-solana-tbt74553.html</a></p>

Paxos expands stablecoin issuance to Solana

TheBitTimes

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