% 5.04
BTC Dominance:
% 0.13
Market Cap:
$2.44 T
% 3.67
Fear & Greed:
74 / 100
$ 69.545
BTC Dominance:
% 54.4
Market Cap:
$2.44 T

Paxos International Launches Yield-Generating Stablecoin Lift Dollar (USDL)

Paxos International has launched its yield-generating stablecoin, Lift Dollar (USDL), and has chosen Argentina as its first market. Paxos’ Charles “Chad” Cascarilla noted that USDL offers a “truly risk-free” return. Users can currently earn around 5% returns on USDL, said Ronak Daya of Paxos.

United Arab Emirates-based Paxos International has launched Lift Dollar (USDL), a yield-generating stablecoin, and has chosen Argentina as its first market.

“USDL is issued permission-free on Ethereum and provides returns to token holders programmatically on a daily basis, subject to reserve assets that fully support the total value of USDL in circulation,” Paxos International said in a statement on Wednesday.

USDL is backed one-to-one by the US dollar, contains “only the highest quality liquid assets”, including US dollar deposits, short-term US Treasury bills and cash equivalents, and is regulated by the Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA). ) is regulated by Paxos International, he said.

With USDL, users can earn a “truly risk-free” return, Charles “Chad” Cascarilla, a board member of Paxos International and co-founder and CEO of Paxos, said in an interview with The Block. He noted that Paxos International is a “public entity” that only issues stablecoins, and said, “If something happens to Paxos, the assets will not be part of any bankruptcy process. They will be returned to investors immediately.”

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

Rate this post
READ:  New Tether CEO Discusses Important Development!

Leave a Reply

Your email address will not be published. Required fields are marked *