Paxos has established a new company, Paxos Labs, to help institutions connect with DeFi and issue customized branded stablecoins
ChainCatcher news, 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 enterprises to connect with DeFi markets and real-world asset opportunities continues to grow, Paxos Labs has been incubated internally at Paxos over the past six months. The initial products of Paxos Labs include issuing custom-branded stablecoins, deploying tokenized yield strategies, and managing tools for structured digital assets. This startup primarily targets clients such as consumer fintech applications, exchanges, and blockchain networks.Kotecha mentioned that if a fintech platform wants to issue its own branded stablecoin or provide users with a dollar-denominated product that allows them 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.