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Paxos Launches Paxos Labs to Bring DeFi Integration Tools to Financial Institutions
Paxos has recently launched Paxos Labs, a new initiative aimed at bringing decentralized finance (DeFi) integration tools to financial institutions. This move is expected to simplify the process of integrating DeFi products and tokenized assets into institutional platforms through easy-to-use APIs.
According to reports, Paxos Labs has been in development for six months, driven by growing demand from companies seeking to connect with DeFi markets without handling the technical complexity involved. The startup’s primary focus is on providing tools that allow fintechs, exchanges, and blockchain networks to issue custom stablecoins, manage structured digital assets, and offer yields.
As part of this new initiative, Paxos Labs offers a range of options for custom stablecoins, including tokenizing collateral in fiat currency or stablecoins through issuers such as Global Dollar, Lift Dollar, or PayPal USD. This is made possible by the regulatory expertise and secure infrastructure provided by Paxos.
It is worth noting that Paxos Labs does not aim to be an asset custody solution provider or offer direct access to DeFi protocols like some other companies do. Instead, it focuses on empowering platforms to create their own on-chain financial products and provide them to users, thereby simplifying the user experience by hiding the complexity of the DeFi ecosystem and enabling product expansion.
The ultimate goal of Paxos Labs is to become the default infrastructure layer for on-chain financial products worldwide, facilitating institutional adoption.
Source: crypto-economy.com
