Translation Paxos Appoints Executive Director for Strategic Expansion in Singapore

Coin World News reported:
Paxos Trust, a stablecoin issuer based in New York, has appointed Jeannie Lim as the Executive Director of Paxos Singapore. According to Bloomberg, Lim previously served as the Head of Messenger Payments at Singapore’s Meta Platforms Limited, where she led the company’s strategic initiatives in the Asia-Pacific region.
A spokesperson for Paxos stated, “Jeannie will be responsible for shaping and driving Paxos’ strategic vision and objectives in the Asia-Pacific region.” They added that she will oversee new business opportunities and partnerships, as well as manage ongoing relationships with key clients, partners, and regulatory bodies throughout the region.
Based on Lim’s LinkedIn profile, she worked at Meta for six years and previously held sales/business development roles at Singapore’s First Data Corporation and Worldpay, as well as sales/business development positions at Discover, Expedia, Chase, and Cardinal Commerce in the United States.
Rich Teo, the co-founder and former CEO of Paxos Asia, remains a member of the board. Paxos employees were informed of Teo’s transition from his day-to-day operational role in February. Teo, along with Charles Cascarilla, co-founded Paxos in 2012. The company raised $300 million in a funding round led by Oak HC/FT.
Paxos’ Singapore entity has obtained a license from the Monetary Authority of Singapore to operate as a major payment institution providing digital payment token services. Singapore is Paxos’ third-largest market, following the United States and the United Arab Emirates, where the company and its affiliated entities are authorized to issue stablecoins.
Yesterday, Paxos announced that Standard Chartered Bank, the largest bank in Southeast Asia, will become its primary banking partner, providing cash management and custody services for Paxos’ stablecoin reserves.