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Paxos collaborates with Velo Labs to integrate its yield-generating stablecoin USDL as collateral and settlement asset.
Golden Finance reports that Paxos International has announced a partnership with Web3 financial infrastructure Velo Labs to integrate its regulated yield-generating stablecoin Lift Dollar (USDL). USDL will serve as reserve collateral and settlement asset within the USDV stablecoin framework of Velo Labs. USDL was launched by Paxos last year and is regulated by the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), priced in USD.
according to chatgpt your information has no backstop