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Paxos Unveils Dollar-Backed Stablecoin Approved by New York Regulator

Paxos Unveils Dollar-Backed Stablecoin Approved by New York Regulator – CoinDesk

Blockchain startup Paxos announced Monday that it is launching a stablecoin with regulatory backing from the state of New York. The newly minted Paxos Standard, which has been approved and will be regulated by the New York Department of Financial Services (NYDFS) is fully backed by the U.S. dollar, the company said.

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