Paxos Launches Yield Bearing Lift Dollar Stablecoin, But There’s a Catch
Introduction of Lift Dollar (USDL):
- Paxos International introduces a new yield-bearing stablecoin named Lift Dollar (USDL) in Argentina.
- USDL is built on the Ethereum blockchain and offers daily payouts to token holders.
Regulation and Oversight:
- USDL is regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Monetary to ensure high regulatory standards.
- The stablecoin's reserves are managed to support the total USDL in circulation, enhancing investor trust.
Yield Generation and Fees:
- USDL provides a return rate of around 5% derived from investments in U.S. Treasury bills and other cash instruments.
- A distribution fee of 20 basis points and an issuer fee of 30 basis points are set by Paxos International.
Market Accessibility:
- Lift Dollar is not available in several countries including the United States, UAE (excluding ADGM), UK, EU, Canada, Hong Kong, Japan, and Singapore.
- Restrictions are due to potential categorization as securities by the U.S Securities and Exchange Commission.
Future Outlook:
- Despite limitations, Paxos anticipates significant growth in the stablecoin market and aims to provide financial inclusion through USDL to unbanked populations.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
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() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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