Mas Grants Full Digital Payment Token License to Paxos
In a significant move, Paxos, a leading US-based blockchain platform, has received a license from the Monetary Authority of Singapore (MAS) to offer digital payment token services as a Major Payments Institution. This development marks a significant expansion of Paxos' global footprint and allows the company to offer its digital asset and blockchain products and services in Asia.
The license, which was granted during the Singapore Fintech Festival, comes as Paxos continues to make strides in the digital asset industry. In 2015, Paxos secured the first limited purpose Trust charter for digital assets in New York, setting a precedent for other digital asset companies. The company is also one of the first US-based blockchain platforms to secure a license from MAS.
Paxos' expansion into Asia is led by Rich Teo, the Co-Founder and CEO of Paxos Asia. With the new license, Paxos can support its current partners in expanding their digital marketing services into Asia. This move is expected to boost the adoption of digital assets and blockchain technology in the region.
In a related development, Wise, a global financial services company, also secured a capital markets services license during the Singapore Fintech Festival. This license will enable Wise to offer a broader range of financial services in Singapore.
The announcement by Paxos coincides with the Singapore Fintech Festival, a global event that brings together the world's leading financial institutions, technology companies, and policymakers to explore the future of finance. The event provides a platform for companies like Paxos to showcase their innovative solutions and forge new partnerships.
As Paxos continues to grow and expand, the company's CEO, Charles Cascarilla, remains at the helm. Although the exact date of his appointment as CEO is not explicitly found in the search results, he is identified as the CEO as of 2025, including at the Singapore FinTech event in 2025. Cascarilla, who is also a co-founder of the company, has been instrumental in driving Paxos' success in the digital asset industry.
The featured image of this article is an edited photo by Kenneth Koh via Unsplash. It symbolises the growth and innovation that Paxos represents in the digital asset and blockchain industry. As Paxos continues to secure licenses and expand its operations, it is poised to play a significant role in shaping the future of digital marketing.
