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Paxos International, a blockchain infrastructure firm based in New York, has launched a new yield-bearing stablecoin called Lift Dollar (USDL). The stablecoin offers holders an annual yield of approximately 5%, with yields paid daily on a rebase basis. USDL is regulated out of the United Arab Emirates and is pegged to the US dollar. The stablecoin aims to democratize access to US dollars and safe yield generated from cash and cash equivalent assets. It is integrated with PayPal’s PYUSD stablecoin and Hashnote’s yield-bearing USYC token to enhance liquidity and yield generation in the crypto market. USDL will initially be available in Argentina through crypto platforms Ripio, Buenbit, and TiendaCrypto. USDL is built on Ethereum and is the first stablecoin to offer daily yield under full regulatory oversight.
Paxos, the company behind PayPal’s stablecoin, introduced a similar token that will pay a roughly 5% yield. The Lift Dollar is pegged to the greenback and issued by an affiliate Paxos set up in the United Arab Emirates https://t.co/mJ0s9VglCp
PAXOS UNVEILS YIELD BEARING STABLECOIN, USDL: DETAILS... - @Paxos has launched the Lift Dollar (USDL), a USD-denominated stablecoin offering a 5% annual yield. Yields are reportedly paid daily on a rebase basis. Key Points: - USDL built on Ethereum is regulated in the UAE by… https://t.co/yBFyFFglcw https://t.co/JMH6feNhDs
.@Paxos International, a UAE-based entity of Paxos, has launched a yield-bearing stablecoin called Lift dollar $USDL Paxos International is first launching the $USDL stablecoin in Argentina via crypto platforms Ripio, Buenbit and TiendaCrypto as its distribution partners.… https://t.co/yjHRPnY7rZ