Paxos is the latest company to secure a license in Singapore, allowing it to offer blockchain or crypto services to local businesses. Paxos, the issuer of the USDP stablecoin, can offer crypto products and services in Singapore after securing the license under the nation's Payment Services Act.

The New York-based company announced the approval early Wednesday (Singapore time), saying in a press release that the license would allow it to offer "digital asset and blockchain products and services" to companies headquartered in the nation. (Coindesk)