Nicholas Robnett on stablecoin models at Singapore FinTech Festival

Last week at Singapore FinTech Festival, Nicholas Robnett, Head of Crypto at Paxos, walked through the three models enterprises evaluate when entering the stablecoin market. Each comes with different requirements, risks and outcomes. 1️⃣ Build Your Own (DIY) With this model, an institution designs, issues and operates its own stablecoin end to end. They handle the regulatory framework, audits, reserves, issuance infrastructure, liquidity and ongoing compliance. Building your own stablecoin offers full control, but it is also the most expensive and time intensive model to get right. 2️⃣ Whitelabel Issuance A company offers a branded stablecoin while a regulated issuer provides the underlying issuance, custody, audits and compliance. This gives enterprises speed, safety and trusted regulatory oversight without recreating core infrastructure. This is the model behind PYUSD. PayPal owns the customer experience, and Paxos provides the regulatory supervision, issuance and operational complexity. 3️⃣ Network Model Several platforms work together on a shared stablecoin rather than each building their own. With a network model, partners tap into the same liquidity, grow utility across chains, and earn economics as their activity expands. This model aligns incentives and supports global scale. Global Dollar Network (USDG) is built around this approach. It is a safe and trusted dollar issued by Paxos that partners can integrate across exchanges, blockchains, fintechs and trading platforms while earning rewards for their share in growing adoption. Nick’s core message was simple. Stablecoins are a technology choice, but they’re also an operating model choice. Choosing the right one shapes how quickly you can launch, how strong your compliance foundation is, and how well your product can grow over time.