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
-
$2.3 Billion Gains And What Lies Ahead For The Stablecoin
Este artículo también está disponible en español. On Thursday, Tether (USDT), the world’s largest stablecoin issuer,... -
JPMorgan Chase Paying $100,000,000 To Customers As Bank Settles Wave of Allegations From U.S. Securities and Exchange Commission
JPMorgan Chase is handing $100 million to customers after settling a wave of allegations from the... -
Bitcoin Price (BTC) Volatile, but Holding Near $70K Following Weak Employment Report
The U.S. added just 12,000 jobs in October, according to the Nonfarm Payrolls report, well shy...