Paxos Stablecoin Issuance with Solana Blockchain

4 views 7:58 am 0 Comments December 25, 2023

Paxos, a regulated blockchain and tokenization infrastructure platform, has announced a strategic move to broaden its stablecoin issuance to the Solana blockchain platform. Previously exclusive to Ethereum, this expansion marks a milestone for Paxos’s enterprise and consumer-focused operations.

The introduction of USDP on Solana, scheduled for January 17, 2024, aligns with Paxos’s commitment to delivering seamless and efficient financial solutions in the dynamic blockchain landscape.

Walter Hessert, Head of Strategy, Paxos, Source: LinkedIn

Walter Hessert, Paxos Head of Strategy, commented: “The expansion of our stablecoin platform to support Solana marks an important step towards making stablecoins ubiquitous for everyday consumers.

Paxos has set the standard for oversight, reserve management and issuance in the stablecoin market. By integrating USDP with Solana, we’re making it easier for anyone to get and use the safest, most reliable stablecoins.”

Raj Gokal, Co-Founder of Solana, Source: LinkedIn

Solana’s high-speed transaction capabilities and lower fees make it an attractive platform for US dollar stablecoins and payments. Paxos aims to leverage Solana’s performance architecture to enhance the reliability and customer security of USDP, reinforcing its position as a key player in the evolving blockchain industry.

Raj Gokal, Co-Founder of Solana, commented: “Paxos’s decision to bring stablecoin issuance to the Solana blockchain will showcase how Solana’s high-performance network and low transaction fees can support regulated financial products and provide leaders like Paxos new ways to scale and innovate. The Solana network will enable Paxos to further its vision for a more open and financially empowering future.”

Expect ongoing updates as this story evolves

Paxos, a regulated blockchain and tokenization infrastructure platform, has announced a strategic move to broaden its stablecoin issuance to the Solana blockchain platform. Previously exclusive to Ethereum, this expansion marks a milestone for Paxos’s enterprise and consumer-focused operations.

The introduction of USDP on Solana, scheduled for January 17, 2024, aligns with Paxos’s commitment to delivering seamless and efficient financial solutions in the dynamic blockchain landscape.

Walter Hessert, Head of Strategy, Paxos, Source: LinkedIn

Walter Hessert, Paxos Head of Strategy, commented: “The expansion of our stablecoin platform to support Solana marks an important step towards making stablecoins ubiquitous for everyday consumers.

Paxos has set the standard for oversight, reserve management and issuance in the stablecoin market. By integrating USDP with Solana, we’re making it easier for anyone to get and use the safest, most reliable stablecoins.”

Raj Gokal, Co-Founder of Solana, Source: LinkedIn

Solana’s high-speed transaction capabilities and lower fees make it an attractive platform for US dollar stablecoins and payments. Paxos aims to leverage Solana’s performance architecture to enhance the reliability and customer security of USDP, reinforcing its position as a key player in the evolving blockchain industry.

Raj Gokal, Co-Founder of Solana, commented: “Paxos’s decision to bring stablecoin issuance to the Solana blockchain will showcase how Solana’s high-performance network and low transaction fees can support regulated financial products and provide leaders like Paxos new ways to scale and innovate. The Solana network will enable Paxos to further its vision for a more open and financially empowering future.”

Expect ongoing updates as this story evolves

Tags: ,