Paxos establishes a new startup company to assist institutions in providing DeFi products

According to The Block, stablecoin issuer PaxosPaxos has launched a new startup called Paxos Labs, aimed at helping institutions integrate DeFi and on chain products directly into their own applications and platforms. Bhau Kotecha, co-founder of Paxos Labs, stated that the company has incubated internally within Paxos over the past six months due to the growing demand for connecting DeFi markets and real asset opportunities. Paxos Labs is building an easy to integrate API that allows customers to integrate related products without delving into DeFi complexity. Its initial products include issuing customized branded stablecoins, deploying tokenized revenue strategies, and tools for managing structured digital assets. Its main target customers are consumer fintech applications, exchanges, and blockchain networks. Paxos Labs will also collaborate with multi asset issuers to support customized stablecoins, while leveraging Paxos' regulatory, infrastructure, and financial system building experience. Unlike companies that specialize in hosting or directly integrating DeFi protocols, Paxos Labs focuses on providing APIs and infrastructure for platforms to offer on chain products to end users. In the next 12 to 18 months, its goal is to become a one-stop shop for institutional integrated on chain products.