🔥 Arbitrum Becomes First Layer-2 Blockchain on Paxos Platform
posted 10 Sept 2024
The Arbitrum Foundation announced its partnership with Paxos to bring its network to the regulated tokenization platform, making Arbitrum the first Layer-2 blockchain to do so. This collaboration is a key step toward building a network designed for institutional adoption.
Experts suggest this agreement will grant Paxos access to increased liquidity, lower transaction fees, faster processing, and a vibrant user community. Once fully integrated, businesses will gain the tools needed to develop financial products and services.
The next three years will see a surge in stablecoin adoption by retail and institutional users, and Paxos will lead that shift,said Walter Hessert, Head of Strategy at Paxos.
The regulatory framework surrounding Paxos is expected to be a major advantage for both parties. The deal also involves Offchain Labs, the primary developer of Arbitrum, which has recently helped launch upgrades like Arbitrum Orbit and Arbitrum Nitro.
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