USDL

Future

Chair

Secure

Daily

Paxos International has introduced a new stablecoin, the Lift Dollar (USDL), designed to offer a yield-bearing opportunity for its holders. Launched first in Argentina, this stablecoin is built on the Ethereum blockchain, ensuring its operations are permissionless and secure.
USDL is fully backed by U.S. dollars, maintaining a strict one-to-one ratio with high-quality liquid assets, including short-duration U.S. Treasuries and cash equivalents.
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 Breaking: <a href="https://twitter.com/Paxos?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Paxos</a> announces <a href="https://twitter.com/search?q=%24USDL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$USDL</a> "Lift Dollar"- its own yield bearing stable coin ☝️ Its the first stablecoin to offer holders daily In-Wallet returns under full regulatory oversight. From their site "What sets <a href="https://twitter.com/search?q=%24USDL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$USDL</a> apart from other stablecoins on the market is its unique… <a href="https://t.co/0kgw5D6O6l" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/0kgw5D6O6l</a>— MartyParty (@martypartymusic) <a href="https://twitter.com/martypartymusic/status/1798427662295371912?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">June 5, 2024</a>
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Daily Yields and Secure Backing
Each USDL token is equivalent to one U.S. dollar, and holders can benefit from daily yield payouts. This feature sets it apart, as it delivers a consistent return, currently around 5%, which aligns closely with the current effective federal funds rate.&nbsp;
Additionally, the Financial Services Regulatory Authority of Abu Dhabi Global Market oversees the regulation of USDL, providing an additional layer of security.
Paxos International stresses the independence of this operation, ensuring that the assets backing USDL are not entangled in potential financial complications, including bankruptcy. In the event of financial discrepancies, these assets would be promptly returned to investors.
Strategic Distribution and Future Goals
The distribution of USDL in Argentina is facilitated through partnerships with local crypto platforms such as Ripio, Buenbit, and TiendaCrypto. While USDL is not available in the U.S. and several other jurisdictions due to regulatory considerations, Paxos International plans to expand its availability to reach unbanked and underbanked populations around the globe.&nbsp;
This strategy aims to significantly grow the stablecoin market and capture a substantial market share from existing competitors in the coming years.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/05/15/former-cftc-chair-giancarlo-joins-paxos-board-of-directors/" target="_blank" rel="noopener noreferrer nofollow">Former CFTC Chair Giancarlo Joins Paxos Board of Directors</a>
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Paxos International Debuts Yield-Bearing Lift Dollar in Argentina

The Crypto Times

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