Stablecoin issuers Circle and Paxos gain approvals in Singapore By Cointelegraph

Stablecoin issuers Circle and Paxos have each received approvals for their respective licenses from the Monetary Authority of Singapore (MAS), the city-state’s central bank.

Circle received in-principle approval for a major payments institution license, allowing it to issue cryptocurrencies and facilitate domestic and cross-border payments, while Paxos received its license to offer digital payment token services.