Finally, Paxoslab's new stablecoin, USDG, has launched on @Aptos! 1. Paxos was founded in 2012 by Charles Cascarilla and Richmond Teo. Initially, the company was called itBit, a notorious (not in a negative sense) early Shenzhen-based virtual currency exchange. 2. In 2015, after expanding overseas, Paxos Trust Company obtained a limited-purpose trust license from the New York State Department of Financial Services (NYDFS). This license was extremely rare at the time and was one of the first regulated stablecoin issuance licenses in the crypto space. The company then rebranded to Paxos. 3. In September 2018, Paxos launched Paxos Standard (PAX), a regulated stablecoin backed 1:1 by the US dollar. Initially, it was planned to be issued on EOS. However, due to EOS being continuously drained by Galaxy Digital, it was temporarily issued on ETH instead. They also launched the "Stablecoin as a Service" business, enabling one-click stablecoin issuance. This brought them their biggest client yet—Binance's BUSD! 4. In February 2023, due to regulatory issues with BUSD being issued on ETH but used on the BSC chain, making it impossible to regulate effectively, the NYDFS ordered Paxos to stop minting new BUSD. 5. During this time, Richmond Teo became famous for his nickname "Party Beast" and his rumored affair with Zhang Yuqi. Additionally, CZ clarified that the women in ambiguous photos with him were all Teo's girlfriends. 6. In 2025, Paxos participated in the bidding for the issuance rights of Hyperliquid USDH but failed to win. 7. Under the new regulatory framework, the issuing entity operates in Singapore under the supervision of the Monetary Authority of Singapore (MAS) as a "Major Payments Institution." After a year and a half of incubation, Paxos' new stablecoin USDG has finally launched on Aptos. Recently, Aptos' asset growth has been astonishing. First comes the money, and with money in place, applications naturally follow.