Paxos International Launches Yield-Bearing Lift Dollar (USDL) with 5% Yield, Regulated out of UAE

Jun 5, 2024, 04:38 PM

New York-based blockchain infrastructure firm Paxos International has launched a new yield-bearing stablecoin called Lift Dollar (USDL). The stablecoin offers holders a yield of roughly 5% per year and is regulated out of the UAE. This innovative product aims to democratize access to US dollars and safe yield generated from cash and cash equivalent assets. The collaboration between Paxos and Hashnote Labs integrates PayPal’s PYUSD stablecoin with Hashnote’s yield-bearing USYC token to enhance liquidity and yield generation in the crypto market. Lift Dollar is the first stablecoin to offer holders daily yield in their wallets under regulatory oversight.