Paxos Introduces Yield-Bearing Stablecoin USDL

Rachana Saha

Paxos launches USDL, a yield-bearing stablecoin, in Argentina, facilitating access to dollar savings and daily earnings via trusted crypto platforms.

USDL ensures value stability to the dollar and offers token holders daily yields from US government securities and cash equivalent assets.

Powered by Ethereum Smart Contracts, USDL simplifies yield distribution, enhancing financial inclusion without additional user actions.

USDL's yield is backed by a reserve of US government securities and cash equivalents, regulated by the Financial Services Regulatory Authority.

Paxos' strategy centers on blockchain technology, ensuring a secure financial system with stablecoins backed 1:1 by the US Dollar.