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.
Related posts
-
Bankrupt Crypto Exchange FTX Set To Begin Paying Creditors and Customers in Early 2025, Says CEO
The CEO of fallen crypto exchange FTX says the firm will begin distributing its bankruptcy payments... -
Stripe, Circle Bring USDC Stablecoin Services to Aptos to Boost Global Payments
“Adding support for the Aptos blockchain inside our crypto products broadens consumer and merchant access to... -
Juiced USDS Yields Woo Solana Traders to Sky’s Stablecoin
The heady growth is about as preordained as anything could be in DeFi. Sky is spending...