Paxos Unveils New Stablecoin USDL for Yield Generation
Wednesday, 5 June 2024, 16:30
Paxos Introduces USDL Stablecoin
Paxos, a prominent player in the cryptocurrency space, has launched a new stablecoin named USDL.
Regulatory Approval and Issuance
The stablecoin has been issued in the UAE and is overseen by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).
Yield-Generating Mechanism
The USDL stablecoin is designed to provide investors with the opportunity to earn yield on their holdings, offering an attractive investment avenue in the crypto market.
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