According to Ledgerinsights, Standard Chartered Bank announced that it will provide cash management, trading, and custody services for stablecoins issued by Paxos outside the United States, including the Lift Dollar (USDL, market value $54 million) issued in Abu Dhabi and the Global Dollar (USDG, market value $29 million) issued in Singapore. This collaboration does not include Paxos's stablecoins within the United States (such as PayPal USD). Standard Chartered stated that this move aims to promote the security and regulatory compliance of global stablecoin solutions.