Paxos is one of the company that has been into the tokenization for years. BUSD, FDUSD and many other tokens were released by them. Ethereum, Polygon and the Solana has the Paxos based stablecoins deployed on their blockchain. 

Arbitrum, layer 2 of Ethereum has been getting a lot of limelight due to the growth on it’s chain. It’s low gas fees and the regular big project investing into the blockchain has helped them grab some good brands into the portfolio.

Paxos is a regulated stablecoin creator and it has created tokens like BUSD, FDUSD and many others. And they have created those tokens on multiple chains and deployed for the stabelcoins.

Now they are in the partnership with the arbitrum and they wish to bring the stablecoin and the tokenization platform into the Arbitrum blockchain.

There was a tweet from paxos on this.

Arbitrum foundation and the OffchainLabs that is working on the platform has done the partnership deal with the Paxos and has decided to work on the tokenization for the Paxos in the upcoming future.

Paxos has previously deployed the stablecoins on the Ethereum, Solana and the Polygon. And they have done some good work on the blockchain exchange Binance too for the FDUSD.

How does the tokenization on Arbitrum helps? There are custody solutions which can be deployed on the Arbitrum and Paxos happens to fill in the space and helps out with the tokenized assets.

This would be interesting move from the Paxos to work on Arbitrum like L2 on Ethereum. We will see some interesting projects being deployed on the blockchain.