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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 <a href="https://www.prnewswire.com/news-releases/paxos-expands-to-the-solana-blockchain-302021494.html" target="_blank" rel="noopener">integration</a> into Solana (<a href="https://crypto.news/price/solana/">SOL</a>) is a strategic step for Paxos, given Solana’s reputation for high-speed transactions and lower fees. This move particularly benefits U.S. dollar stablecoins and payment processes, as Solana’s network offers an efficient and cost-effective environment. Paxos’s stablecoin, 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/ <a href="https://twitter.com/Paxos?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@Paxos</a>’ expansion of their USDP stablecoin issuance program, which was previously exclusive to Ethereum, now comes to the payments-friendly Solana blockchain, which features:<br><br>⚡Rapid transaction speed<br>🤝Near-instant settlement<br>🪙Negligible transaction fees…</p>— Solana (@solana) <a href="https://twitter.com/solana/status/1738204881297846642?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">December 22, 2023</a>
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<p>Raj Gokal, co-founder of <a href="https://crypto.news/solana-can-be-in-top-5-in-2024-will-this-project-lead-meme-coins/">Solana</a>, 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 stablecoins, maintains a full 1:1 backing by the U.S. dollar. The launch is scheduled for Jan. 17.</p> 
<p> Read more: <a href="https://crypto.news/arthur-hayes-dumps-solana-for-ether-cites-divine-inspiration/"> Arthur Hayes dumps Solana for Ether, cites divine inspiration </a> </p>

Paxos expands stablecoin issuance to Solana

crypto.news

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