Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»Paxos International launches high-yield stablecoin Lift Dollar (USDL)
ADOPTION NEWS

Paxos International launches high-yield stablecoin Lift Dollar (USDL)

By Crypto FlexsJune 6, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Paxos International launches high-yield stablecoin Lift Dollar (USDL)
Share
Facebook Twitter LinkedIn Pinterest Email

Paxos International, a UAE-based entity of Paxos, has launched a yielding stablecoin called Lift Dollar (USDL), with Argentina as its first market.

“USDL is issued permissionless on Ethereum and pays a daily programmatic yield to token holders based on reserve assets fully backing the total value of USDL in circulation,” Paxos International said on Wednesday.

USDL is collateralized one-to-one against the U.S. dollar, holds only the “highest quality liquid assets” including U.S. dollar deposits, short-term U.S. Treasury bonds and cash equivalents, and is regulated by the Financial Services Regulatory Authority (FSRA). Paxos International of Abu Dhabi Global Market (ADGM) announced.

USDL allows users to earn returns that are “truly risk-free,” Charles “Chad” Cascarilla, Paxos International board member and Paxos co-founder and CEO, told The Block. Cascarilla said Paxos International is a “cautionary company” that does nothing other than issue stablecoins. “If anything happens to Paxos, those assets will not be part of the bankruptcy process and will be immediately returned to investors,” he said. “

USDL first launched in Argentina

Paxos International first launched the USDL stablecoin in Argentina with cryptocurrency platforms Ripio, Buenbit and TiendaCrypto as distribution partners.

Ronak Daya, head of product at Paxos, told The Block in an interview that users can currently earn a yield of around 5% on USDL, which is close to the current effective federal funds rate (EFFR). Paxos International uses rebasing technology to distribute returns, and Daya said users’ USDL holdings will increase daily based on the returns.

Paxos International will charge a 20 basis point distribution fee and a 30 basis point issuer fee and pay the remaining profits to users, Daya said, noting that it will waive the issuer fee during USDL’s initial promotional period.

USDL is not available in the United States and some other jurisdictions.

USDL is not available to residents of certain jurisdictions, including the United States, UAE excluding ADGM, United Kingdom, European Union, Canada, Hong Kong, Japan, and Singapore. Cascarilla said that yielding stablecoins could be considered securities by the U.S. Securities and Exchange Commission. This is why the main player, Paxos, does not offer yields on existing stablecoin products such as Pax Dollar or USDP.

“Stablecoins are essentially about helping the unbanked and underbanked people who don’t have access to dollars for a variety of reasons,” Cascarilla said, adding that USDL will target that audience globally for future launches. I mentioned it.

“We believe the stablecoin market will grow 20x from now over the next five years, capturing a significant portion of future growth and taking market share away from incumbents,” Daya said.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ether Lee (ETH) tests major support for $ 4,453 after the highest rejection.

August 31, 2025

Bitcoin analysts bet on $ 200K after hints of Fed.

August 23, 2025

‘Self -transactions, dressed in capital layout’: The cryptocurrency financial craze divides the industry.

August 15, 2025
Add A Comment

Comments are closed.

Recent Posts

Cango Inc. Announces August 2025 Bitcoin Production And Mining Operations Update

September 2, 2025

BitMine Immersion (BMNR) Announces Release Of August Investor Presentation And Latest Video Message From Tom Lee, Chairman

September 2, 2025

Pioneering AI Visionary Vincent Boucher & AGI Alpha Announce A Meta‑Agentic AGI Jobs Marketplace Platform

September 2, 2025

Meme Coin Little Pepe Raises Above $24M In Presale With Over 39,000 Holders

September 2, 2025

Bybit WSOT 2025 Attracts Quadruple Squads As $8M Main Competition Commences

September 2, 2025

Duration Of The Process And Important Nuances

September 2, 2025

PrimeXBT Launches “Empowering Traders To Succeed” Campaign, Leading A New Era Of Trading

September 2, 2025

Korean sleeves cut Tesla and pivot with encryption stocks.

September 2, 2025

Are you ready to token everything?

September 1, 2025

Sign Up And Get $500, Ushering In A New Era Of BTC, XRP, And DOGE Cloud Mining

September 1, 2025

Turning Social Hype Into Token Allocation

September 1, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Cango Inc. Announces August 2025 Bitcoin Production And Mining Operations Update

September 2, 2025

BitMine Immersion (BMNR) Announces Release Of August Investor Presentation And Latest Video Message From Tom Lee, Chairman

September 2, 2025

Pioneering AI Visionary Vincent Boucher & AGI Alpha Announce A Meta‑Agentic AGI Jobs Marketplace Platform

September 2, 2025
Most Popular

NFTs are on fire this December

December 22, 2023

Why did Solana (SOL) price go up today?

July 9, 2024

Uncover the Secrets of MediterraneanCoin: The Future of Cryptocurrency Banking – The Defi Info

January 24, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.