Stablecoin issuer Paxos has obtained two preliminary approvals in Abu Dhabi, allowing it to issue stablecoins and provide crypto brokerage and custody services

ChainCatcher news, according to The Block, stablecoin issuer Paxos has received two principle approvals from the Financial Services Regulatory Authority of Abu Dhabi Global Market to issue stablecoins and provide cryptocurrency brokerage and custody services. The preliminary approvals are for two new entities of Paxos in the Abu Dhabi Global Market.

A Paxos spokesperson revealed that full approval is expected to be obtained in the first half of next year.