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Paxos Courts MakerDAO With Paying Yield for Holding Up to $1.5B USDP Stablecoin

Altszn.com by Altszn.com
January 19, 2023
in Blockchain, Crypto, DeFi, Web3
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USDP is a dollar-pegged stablecoin one-to-one backed by cash and cash-equivalent U.S. government debt instruments, according to independent attestations. Both Paxos and USDP are regulated by the New York Department of Financial Services (NYDFS), the state’s leading financial regulatory agency. Effectively, Paxos would pass a part of the revenue earned on the government bonds backing USDP to Maker.



Read More: www.coindesk.com

Tags: 1.5BCourtsDeFiHoldingMakerDAOPaxospayingstablecoinUSDPyield
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