Stablecoin

JUST

United

According to breaking information, cryptocurrency trading platform Paxos announced today that it introduced a USD-denominated stablecoin called Lift Dollar (USDL), which is issued and yields in the United Arab Emirates (UAE). 
Cryptocurrency trading platform Paxos announced the launch of Lift Dollar (USDL), a new yield-generating USD-denominated stablecoin. The stablecoin is issued in the United Arab Emirates (UAE) and was introduced today. 
Lift Dollar is issued by Paxos International, the firm's UAE division, and is regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). The move comes as major stablecoin issuers such as Tether and Circle accumulate billions of dollars worth of interest on the US-dated bonds they hold. 
Paxos CEO Charles Cascarilla explained that Lift Dollar is structured similarly to other stablecoins issued by the firm, including PayPal USD (PYUSD), Pax Dollar (USDP), and Pax Gold (PAXG). These stablecoins are matched 1:1 to the dollar, backed by short-term US government securities, and all are overseen by a prudential regulator. All assets are safely positioned away from potential bankruptcy situations. 
“We added programmatic daily returns so it looks a little more like a savings product than a checking account product, which is perhaps the way to think about it for traditional stablecoins,” Cascarilla said. said. 
Due to lack of regulatory guidance, Paxos USDL will not be available in the US. However, it will be accessible to individuals who want to hold dollars in many other regions, including Europe, the United Kingdom, and Japan. 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/just-in-paxos-previously-issued-busd-now-introduces-a-new-stablecoin-it-has-a-feature-first-in-history/">JUST IN: Paxos, Previously Issued BUSD, Now Introduces a New Stablecoin – It Has a Feature First in History</a>

JUST IN: Paxos, Previously Issued BUSD, Now Introduces a New Stablecoin – It Has a Feature First in History

Bitcoin Sistemi EN

Other articles published on Jun 5, 2024

Uniswap (UNI) Price Hints A 30% Surge This Month As Technical Indicator Turns Bullish?

Meme Coin Buyer Scoops Up $10 Million in Shiba Inu (SHIB)

Solana Continues Rally Fueled by Memecoins and DeFi Activity

Fight Night Ignites Meme Coin Mania with Celebrity Promotion, Webtoons, Web3 Games, and More

Introducing Mandala Chain, The Polkadot L1 Targets 10M+ New Wallets in Indonesia (5 Jun)

Crypto Exchange DMM Bitcoin Plans $321 Million Fundraise After Major Hack

Join our free newsletter for daily crypto updates!