Happycoin.club - Paxos International, a division of Paxos based in the UAE, has released the profitable stablecoin Lift dollar (USDL), the first market of which was Argentina.
USDL is issued on Ethereum and programmatically pays income to token holders on a daily basis, provided that reserve assets fully support the total value of USDL in circulation, Paxos International representatives said.
For now, only residents of Argentina can use USDL through local crypto platforms Ripio, Buenbit and TiendaCrypto. Stablecoin holders will be able to receive income from the asset in the amount of 5% of its value. Paxos International will collect a portion of its income as a commission.
The choice of Argentina is due, according to one of the company representatives, to the desire to support residents of countries that “do not have access to dollars for a number of different reasons.”
In addition, Paxos International wants to make a significant contribution to the development of the stablecoin market, which, according to experts, will grow 20 times in the next five years.
