Paxos partners with Velo Labs to integrate its income-based stablecoin USDL as collateral and clearing assets
Paxos International announced a partnership with Web3 financial infrastructure Velo Labs to integrate its regulated income-based stablecoin Lift Dollar (USDL), which will serve as a reserve collateral and settlement asset within Velo Labs 'USDV stablecoin framework. The USDL was launched by Paxos last year, is regulated by the Abu Dhabi Global Markets (ADGM) Financial Services Supervisory Authority (FSRA) and is denominated in U.S. dollars.
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