Paxos granted Singapore license, plans to hire at least 130: Bloomberg

Paxos has plans to hire at least 130 people for its Singapore office following the news it has received a license to offer digital-payment token services in the city-state. Paxos is the first U.S.-based blockchain infrastructure platform to secure a license as a Major Payments Institution from the Monetary Authority of Singapore.

Only 18 companies have been granted virtual asset licenses out of around 200 applicants. The company currently has 20 Singapore-based employees out of 350 globally — serving a host of enterprise clients including Paypal, Mastercard, Bank of America and Credit Suisse. Singapore has witnessed the departure of several crypto firms over the last few months as it seeks to bring in greater regulation of the sector — particularly in retail trading.

Leave a Reply

Your email address will not be published. Required fields are marked *