Paxos Launches Profitable Stablecoin USDL with Daily Automatic Wallet Distribution of Reserves

Paxos International, a subsidiary of Paxos based in the UAE, has announced the launch of a yield-bearing stablecoin called Lift Dollar (USDL). USDL is issued by Paxos International, a regulated entity under the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA), and will be available to qualified consumers in global markets. Paxos International will work with global exchanges, wallets, and platforms to distribute USDL to individuals and institutions.