BlockBeats reports that on June 19, according to The Block, Paxos has launched a new startup called Paxos Labs. The aim of the company is to help 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 enterprises increasingly seek to connect with DeFi markets and real-world asset opportunities, Paxos Labs has been incubated within Paxos over the past six months. Paxos Labs’ initial offerings include tools for issuing custom-branded stablecoins, deploying tokenized yield strategies, and managing structured digital assets. The startup primarily targets clients such as consumer fintech applications, exchanges, and blockchain networks.
Kotecha further explained that, for instance, if a fintech platform aims to issue its own branded stablecoin or offer users a U.S. dollar-denominated product that provides passive returns without requiring users to directly engage with DeFi, Paxos Labs can provide the supporting infrastructure. Similarly, if a Layer 1 network or a DeFi protocol wants to offer native Bitcoin or Ethereum yield products to enhance capital retention and user engagement, they can utilize Paxos Labs’ API to design and roll out these functionalities.
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