#paxos
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The Arbitrum Foundation announced its partnership with Paxos to bring its network to the regulated tokenization platform, making Arbitrum the first Layer-2 blockchain to do so. This collaboration is a key step toward building a network designed for institutional adoption. 
Financial powerhouses including Goldman Sachs, BNY Mellon, Paxos, and others have concluded their testing phase of the blockchain Canton Network, engineered by Bluechip Digital Asset. The initiative brought together 15 asset management companies, 13 banks, four depositary institutions, and three exchanges in its pilot phase. 
Markus Thielen, Head of Research at Matrixport, believes that the SEC is not targeting stablecoins. The charge against Paxos is indirect. The regulators are planning an attack on Binance, which stored customer funds in the same wallet with its collateral for some in-house tokens.
The regulations require that exchanges' corporate assets must be recorded in separate accounts and cannot form part of the proof-of-reserves calculations.
That's simple: Binance cannot confirm its BUSD reserves. Paxos Trust Company, which is the only issuer of the exchange's stablecoin, serves as a witness in this case, not a defendant.
Has CZ fallen into curly-haired Sam’s trap by mixing up customers' wallets with his own? We find it hard to believe. Hopefully, his accounting skills are way better. 
Partnering with Paxos Trust, financial giant PayPal has unveiled PayPal USD (PYUSD), focusing on swift and budget-friendly payments.
With backing from dollar deposits, short-term government securities, and similar cash equivalents, PayPal's CEO, Dan Schulman, envisions the stablecoin bolstering the company's foothold in the digital currency space:
"The vision over time is that this becomes a part of the overall payments infrastructure." 
Aave announced the freezing of reserves of the exchange's sole stablecoin BUSD in light of Paxos' move.
Mark Zeller claims that the coin has no chance of developing and that it may harm the project's arbitrage opportunities.
The 26th of February is predicted to be the Doomsday for BUSD on Ave. Which stablecoin will take the place of the coin is yet to be determined. 
The SEC accuses Paxos Trust, the Pax Dollar, and BUSD stablecoins issuer, of illegal trading securities. You sound like a broken record, Mr. Gensler!
The Commission seems to have a hard time in court: Paxos has been authorized by the New York Department of Financial Services (NYDFS); it operates under its supervision, and its stablecoins are actively used by institutional investors in the United States.
The crypto community will see an epic battle between SEC prosecutors and NYDFS lawyers! We’re wondering who has more powerful attorneys: Paxos or Ripple? 1 - 20 of 20 results