Stablecoin
issuer
Paxos
downsized
its
workforce
by
20%
despite
robust
finances
and
optimistic
growth
projections
in
the
stablecoin
market,
Bloomberg
reported
on
June
12.
Paxos
International,
the
company’s
UAE-based
affiliate,
announced
the
launch
of
a
yield-bearing
stablecoin
called
Lift
Dollar
(USDL)
on
June
5.
The
company
continues
to
redeem
and
convert
Binance
USD
(BUSD)
after
halting
the
stablecoin’s
issuance
in
February
2023
following
Binance’s
decision
to
end
for
the
stablecoin.
BUSD
continues
to
circulate
even
though
issuance
has
ended,
with
a
market
cap
of
$70.5
million.
Mentioned
in
this
article
Latest
Alpha
Market
Report
Go to Source
Author: Mike Dalton
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