Deep Tide TechFlow news, on December 12, Standard Chartered Bank announced that it will provide cash management, trading, and custody services for Paxos stablecoins issued outside the United States. Paxos issued Lift Dollar (USDL) in Abu Dhabi (market cap of $54 million) and Global Dollar (USDG) in Singapore (market cap of $29 million). It also has onshore stablecoins not covered by this arrangement, such as PYUSD. The vast majority of reserve assets are short-term U.S. Treasury bonds.

Previously, when Paxos announced the Global Dollar, it stated that DBS Bank would provide custody and cash management services.