CoinVoice has recently learned that, according to The Block, Paxos has established a new startup called Paxos Labs, aimed at helping institutions directly integrate decentralized finance and on-chain products into their applications and platforms.
Bhau Kotecha, co-founder and head of Paxos Labs, stated that as the demand for businesses to connect with DeFi markets and real-world asset opportunities continues to grow, Paxos Labs has been incubating within Paxos over the past six months. The initial products of Paxos Labs include issuing custom-branded stablecoins, deploying tokenized yield strategies, and managing structured digital asset tools. This startup primarily targets clients in consumer fintech applications, exchanges, and blockchain networks.
Kotecha stated that if a fintech platform wants to issue its own branded stablecoin or provide a dollar-denominated product that allows users to earn passive income without directly interacting with DeFi, Paxos Labs can provide the supporting infrastructure. Similarly, if a Layer 1 network or DeFi protocol wishes to offer native Bitcoin or Ethereum yield products to enhance capital retention and user engagement, they can use Paxos Labs' API to build and launch these features. [Original link]
