🚀 **Crypto News Flash: Paxos Launches Yield-Bearing Stablecoin on Arbitrum!** 🚀

- **Paxos International** has introduced its yield-bearing stablecoin, **Lift Dollar (USDL)**, on the Ethereum layer-2 network, **Arbitrum**.

- **USDL** is pegged 1:1 to the U.S. dollar and offers daily yield distribution via Ethereum smart contracts.

- This move, announced on Oct. 9, follows Paxos' recent plans to expand its products to Ethereum's L2 solutions.

- **A.J. Warner** from Offchain Labs highlights USDL's potential to boost DeFi, gaming, and social applications on Arbitrum.

- Paxos, regulated by Abu Dhabi’s Financial Services Regulatory Authority, is a key player alongside Tether and Circle.

💬 **What are your thoughts on this new stablecoin launch? Comment below!** 💬