Golden Finance reports that Paxos International has announced a collaboration with Web3 financial infrastructure Velo Labs to integrate its regulated yield-bearing stablecoin Lift Dollar (USDL). USDL will serve as reserve collateral and settlement asset within Velo Labs' USDV stablecoin framework. USDL was launched last year by Paxos and is regulated by the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) and is valued in USD.

DeFiLlama data shows that Coinshift's stablecoin clUSDL, launched only 4 months ago in January this year, has reached a TVL of $100 million. The market demand for fiat-pegged assets that provide passive income through DeFi protocols is rising. clUSDL is built on Ethereum, earning returns through on-chain lending and U.S. Treasury bonds, based on the USDL issued by Paxos.

Odaily Planet Daily News Standard Chartered Bank announced that it will provide cash management, trading, and custody services for Paxos stablecoin issuance outside the United States. Paxos has issued Lift Dollar (USDL) (Market Cap $54 million) in Abu Dhabi and Global Dollar (USDG) (Market Cap $29 million) in Singapore. In addition, Paxos has also issued Paypal USD

Odaily Planet Daily News reported that Injective announced on X platform that Paxos has launched a profitable Stable Coin Wrapped Lift Dollar (wUSDL) in the Injective ecosystem. Users can use this new Stable Coin in Injective's Decentralized Finance protocol suite, and earn income by holding the asset. wUSDL is a wrapped version of USDL on Ethereum, with a 1:1 peg to the US dollar.