{"id":88601,"date":"2023-12-22T18:38:13","date_gmt":"2023-12-22T16:38:13","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=88601"},"modified":"2025-09-13T19:04:31","modified_gmt":"2025-09-13T16:04:31","slug":"paxos-to-launch-usdp-stablecoin-on-solana-network","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/paxos-to-launch-usdp-stablecoin-on-solana-network\/","title":{"rendered":"Paxos to Launch USDP Stablecoin on Solana Network"},"content":{"rendered":"<p>The infrastructure blockchain company Paxos announced the launch of the &#8216;stablecoin&#8217; <a href=\"https:\/\/forklog.com\/en\/news\/paxos-renames-paxos-standard-stablecoin-to-pax-dollar\">USDP<\/a> on the Solana network from 17 January 2024.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/?\ufe0fBreaking News: Paxos Expands to Solana<a href=\"https:\/\/twitter.com\/Paxos?ref_src=twsrc%5Etfw\">@Paxos<\/a>, the leading regulated blockchain &#038; tokenization infrastructure platform, will benefit from the high-performance architecture of Solana &#038; plans to offer the USDP stablecoin to the public mid-Jan. 2024.<a href=\"https:\/\/t.co\/PkFUByXcXb\">https:\/\/t.co\/PkFUByXcXb<\/a>? <a href=\"https:\/\/t.co\/NPKMR7EtL8\">pic.twitter.com\/NPKMR7EtL8<\/a><\/p>\n<p>\u2014 Solana (@solana) <a href=\"https:\/\/twitter.com\/solana\/status\/1738204879120957945?ref_src=twsrc%5Etfw\">December 22, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Originally, USDP operated only on the Ethereum network. Representatives from Solana noted that support for their blockchain would increase transaction speed and lower fees.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cExpansion &#8230; marks an important step on the path to the widespread adoption of the &#8216;stablecoin&#8217; among ordinary consumers,\u201d said Walter Hessert, head of strategy at Paxos.<\/p>\n<\/blockquote>\n<p>The company emphasised that Paxos Trust Company LLC\u2019s products and platform are regulated by the New York State Department of Financial Services (NYDFS).<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cRegulatory oversight ensures that Paxos builds solutions only on blockchain protocols with maximum security and integrity,\u201d the release said.<\/p>\n<\/blockquote>\n<p>In November, the blockchain company <a href=\"https:\/\/forklog.com\/en\/news\/paxos-to-launch-new-u-s-dollar-backed-stablecoin\">received in-principle approval<\/a> from Singapore authorities to launch a new dollar-pegged stablecoin.<\/p>\n<p>Earlier, Paxos <a href=\"https:\/\/forklog.com\/en\/news\/paypal-launches-paypal-usd-stablecoin-pyusd\">released<\/a> the PYUSD stablecoin from payments giant PayPal on the Ethereum network. The asset <a href=\"https:\/\/forklog.com\/en\/news\/crypto-community-weighs-paypals-stablecoin-prospects\">has drawn mixed reactions<\/a> from members of the crypto community. Some considered the coin would spur broad uptake of digital assets, while others pointed to centralisation risks.<\/p>\n<p>Earlier, in February, the NYDFS <a href=\"https:\/\/forklog.com\/en\/news\/bloomberg-new-york-regulator-opens-investigation-into-paxos\">initiated an investigation<\/a> into Paxos. The regulator later ordered the company to cease issuing BUSD.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The infrastructure blockchain company Paxos announced the launch of the &#8216;stablecoin&#8217; USDP on the Solana network from 17 January 2024.<\/p>\n","protected":false},"author":1,"featured_media":88602,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1504,1159,807],"class_list":["post-88601","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-paxos","tag-solana-sol","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88601","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=88601"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88601\/revisions"}],"predecessor-version":[{"id":88603,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88601\/revisions\/88603"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/88602"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=88601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=88601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=88601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}