Paxos to Launch Products on Arbitrum One

Stablecoin issuer Paxos is preparing to roll out its products on Arbitrum One, an Ethereum Layer 2 blockchain, marking an expansion of its services.

While the exact Paxos products for Arbitrum remain unspecified, Luke Xiao from Offchain Labs, the team behind Arbitrum, confirmed that Paxos will bring its stablecoin issuance and regulated tokenization services to the platform.

Xiao expressed enthusiasm about the positive impact this move could have on decentralized finance (DeFi) and the Arbitrum ecosystem.

Arbitrum One, a major Layer 2 network, currently holds over $4 billion in total value locked. Walter Hessert from Paxos highlighted the network’s speed, security, and scalability as crucial factors for advancing digital asset adoption.

He anticipates a significant surge in stablecoin use among both retail and institutional users over the next three years, with Paxos playing a key role in this transformation.