Paxos establishes a new startup to help institutions offer Decentralized Finance products.

PANews reported on June 19 that, according to The Block, stablecoin issuer PaxosPaxos launched a new startup, Paxos Labs, which aims to help institutions integrate DeFi and on-chain products directly into their own applications and platforms. According to Bhau Kotecha, co-founder of Paxos Labs, the company has been incubated within Paxos for the past six months due to the company's growing demand for bridging the DeFi market and real-world asset opportunities. Paxos Labs is building easy-to-integrate APIs that allow customers to integrate products without having to dig deep into the complexities of DeFi. Its initial offerings include the issuance of custom-branded stablecoins, the deployment of tokenized yield strategies, and tools to manage structured digital assets, with the primary target customers being consumer fintech applications, exchanges, and blockchain networks. Paxos Labs will also collaborate with multi-asset issuers to support customized stablecoins, leveraging Paxos' regulatory, infrastructure, and financial systems experience. Unlike companies focused on custody or direct access to Decentralized Finance protocols, Paxos Labs focuses on providing APIs and infrastructure to platforms to deliver on-chain products to end users. In the next 12 to 18 months, its goal is to become a one-stop shop for institutions integrating on-chain products.