Paxos, a regulated blockchain infrastructure platform, has formed a strategic partnership with Standard Chartered to enhance the management of its digital assets, Global Dollar (USDG) and Lift Dollar (USDL), in Singapore and the UAE.
This collaboration will see Standard Chartered providing essential services such as cash management, trading and custody, aimed at bolstering the infrastructure that supports these stablecoins.
Standard Chartered will support Paxos’ global tokenisation platform by offering integration with a suite of banking capabilities across transaction banking, financial markets and securities services.
“As the stablecoin industry continues to attract the world’s leading enterprises, it’s more important than ever to ensure they have access to sophisticated, institutional-grade products,” said Adam Ackermann, head of treasury and portfolio management at Paxos. “Standard Chartered’s commitment to risk management, compliance and operational efficiency across its world-class banking solutions is critical to Paxos as a regulated stablecoin issuer.“
John Collura, global head of banks and broker dealer sales and head of Europe and Americas for financing and securities services at Standard Chartered, also added: “Our partnership with Paxos reflects Standard Chartered’s commitment to shaping the future of digital finance with trust and innovation. By providing robust cash management, trading, and custody services, we’re enabling the next generation of secure and regulated digital assets solutions that drive global adoption and economic inclusion.”
Global Dollar (USDG) is a stablecoin backed by the US dollar, issued by Paxos Digital Singapore, and aligns closely with the Monetary Authority of Singapore’s (MAS) forthcoming stablecoin regulations, ensuring high standards of consumer protection and compliance. Additionally, Paxos International, regulated by the Financial Services Regulatory Authority of Abu Dhabi Global Market, introduced another US dollar-backed stablecoin, Lift Dollar (USDL), earlier this year. USDL provides its holders with a daily programmatic safe yield.
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