Blockchain Press Releases
Paxos International Introduces Lift Dollar (USDL) – the First Stablecoin to Offer Holders Daily Yield in Wallet Under Regulatory Oversight
Paxos Encourages Broad Stablecoin Adoption & Industry Expansion with New Model where Holders Directly Benefit from Yield Earned on Reserves
Launch Follows Paxos’ Track Record of Leading Stablecoin Innovation for Financial Industry Leaders
NEW YORK and ABU DHABI, UAE, June 5, 2024 /PRNewswire/ — Paxos International, a UAE-based affiliate of Paxos, today announced the launch of a yield-bearing stablecoin – Lift Dollar (USDL). Issued by Paxos International, a regulated entity under the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), USDL will be available to consumers in eligible global markets. Paxos International will partner with global exchanges, wallets and platforms to distribute USDL to individuals and institutions.
USDL is unmatched in the market as holders earn overnight yield from short-term, high quality liquid US government securities and cash equivalent reserve assets held under the safe protection and custody requirements of the FSRA. This reserve structure is like other Paxos-issued US dollar stablecoins that are backed 1:1 in value. USDL is issued permissionlessly on Ethereum and pays yield programmatically on a daily basis to token holders, subject to the reserve assets fully backing the total value of USDL in circulation. USDL marks an important innovation in democratizing overnight yield by shifting interest earned on stablecoin reserve holdings directly to eligible end holders from the central issuer. This follows Paxos’s proven history of building blockchain solutions for financial institutions and industry leaders.
Using an Ethereum smart contract, USDL distributes the yield generated from its reserves to eligible wallet addresses daily without requiring any additional steps by the token holder. This results in a seamless experience for token holders as their USDL wallet holdings increase every day. Paxos will retain an issuer fee and pay out the remaining yield earned based on prevailing daily market conditions. Companies in permitted jurisdictions interested in enabling USDL on their platforms can onboard with Paxos International.
Charles Cascarilla, Member of the Board of Directors of Paxos International, said: “Paxos is committed to revolutionizing the global financial markets through reliable, trusted and regulated blockchain offerings. The digital asset ecosystem has evolved to create mechanisms for token holders to earn yield on stablecoins, but these options are high-risk, opaque and have led to the failure of numerous firms. USDL is a first-of-its-kind—a regulated product, earning and paying safe yield on a daily basis. Until now, only centralized issuers have benefitted from the economics of stablecoin reserves. Paxos International has reimagined this dynamic so that all token holders can safely use and grow their regulated USD stablecoin holdings. Our vision is a more democratic, inclusive and accessible financial market. USDL is a pivotal step towards achieving that goal.”
The FSRA is recognized for its robust regulatory framework and commitment to fostering innovation in financial services. Under FSRA’s license, Paxos International is required to hold only high-quality liquid assets to back USDL – US dollar deposits, short duration US treasuries and cash equivalents. It is required to ensure that USDL will maintain 1:1 parity with the US dollar and consumers can redeem their tokens for fiat at all times.
Ronak Daya, Head of Product at Paxos, said: “Lift Dollar is the first stablecoin designed to benefit both end users and distributors in a safe manner. Through Paxos International, eligible users around the world can access USDL directly through secure channels managed by trusted partners and watch their holdings grow daily in their wallets. Paxos International leverages a technical mechanism called rebasing to seamlessly distribute yield to users’ wallets. We are excited for the opportunities this will create for businesses and individuals. We look forward to growing our partner network globally this year.”
Paxos has a strong track record of building blockchain technology to power offerings for financial industry leaders. Its digital assets include PayPal USD (PYUSD), Pax Dollar (USDP) and Pax Gold (PAXG) regulated by the New York Department of Financial Services, each of which provides partners and users a quality, 1:1 asset parity overseen by the highest levels of regulatory oversight. The company is the trusted partner for enterprises around the world to tokenize, custody, trade and settle assets.
Arvind Ramamurthy, Chief of Market Development at ADGM, said, “ADGM extends congratulations to Paxos International on receiving approval to issue its yield-bearing stablecoin, Lift Dollar (USDL) to select global markets. This achievement underscores the industry’s growth and innovation in the UAE and the wider region, made possible through FSRA’s progressive and credible regulatory oversight. We anticipate the continued growth of USDL and eagerly await the innovative products that Paxos International will introduce in this ever-evolving and dynamic digital asset market.”
NOTE: This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the US and the District of Columbia). This announcement is not an offer of securities for sale in the US. The digital assets referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended and may not be offered or sold in the US, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the US. USDL is not available to residents of certain jurisdictions, including the United States, and the United Arab Emirates except ADGM, the United Kingdom, the European Union, Canada, Hong Kong, Japan or Singapore.
Contact: [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/paxos-international-introduces-lift-dollar-usdl—the-first-stablecoin-to-offer-holders-daily-yield-in-wallet-under-regulatory-oversight-302164151.html
Blockchain Press Releases
Bybit x Block Scholes Derivatives Report Uncovers BTC Call Option Boom Amidst Election Uncertainty
DUBAI, UAE, Oct. 11, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, in collaboration with Blocks Scholes, is excited to unveil its latest crypto derivatives report. This insightful report explores the market’s response to recent price fluctuations and the backdrop of the upcoming U.S. election.
Key Insights:
Decline in BTC Options Implied Volatility: Surprisingly, implied volatility for Bitcoin (BTC) options has dropped, despite the looming U.S. election. Traditionally, market uncertainty would lead to increased volatility ahead of major events, like the much-anticipated BTC Spot ETF launch, making this a noteworthy deviation.
Surge in Call Option Volumes: BTC call option trading volumes have surged significantly in recent weeks, potentially signaling a shift towards a bullish market sentiment.
Muted Futures Activity: While futures trading saw positive momentum with early October’s market volatility, open interest has remained relatively subdued compared to pre-September expiration levels.
Spike in BTC Perpetual Swap Volumes: Open interest in BTC perpetual swaps remained stable; however, trading volumes surged in response to early October’s volatility spike, marking an important market movement.
Cautious Sentiment in ETH Options: Ethereum (ETH) options also saw a decline in implied volatility. Put option volumes have surpassed call volumes over the past week, suggesting traders are taking a more cautious stance regarding ETH’s future price movements.
Access the Full Report:
Gain deeper insights and explore the potential impacts on your crypto trading strategies by downloading the full report here: https://learn.bybit.com/crypto-insight/bybit-x-block-scholes-crypto-derivatives-analytics-report-oct-9-2024/
#Bybit / #TheCryptoArk /#BybitResearch
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
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View original content:https://www.prnewswire.co.uk/news-releases/bybit-x-block-scholes-derivatives-report-uncovers-btc-call-option-boom-amidst-election-uncertainty-302273884.html
Blockchain Press Releases
Bybit Doubles Down on Rewards for Late Entrants of WSOT 2024 With New 100,000 Prize Pool
DUBAI, UAE, Oct. 11, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced another exclusive round of rewards for a limited time only, looking to incentivize late entrants to the World Series of Trading (WSOT) 2024 in the final registration phase.
Between now and Oct. 20, 10 AM UTC, eligible participants who join new WSOT squads with their Main or Subaccounts on Bybit stand the chance to unlock a fresh 100,000 USDT prize pool. This bonus pool, available just before the registration period ends, offers participants one last opportunity to boost their WSOT rewards. Notably, this prize pool is separate from the WSOT 2024’s total prize pool of 10,000,000 USDT.
This last-mile campaign comes on the heels of a successful 24-hour flash airdrop this week, during which 100,000 USDT was claimed by both new and existing participants in record time, underscoring the broad appeal of WSOT 2024 among the crypto community.
How to participate:
- Sign up for WSOT 2024 with your main account or Subaccount(s)
- Join a squad
- Achieve a minimum trading volume of $10,000 with the accounts to qualify
“We promised to keep the rewards flowing throughout WSOT 2024, and Bybit is delivering on that promise. With two sign-up campaigns targeting different trader segments in one week and additional bonus rewards for side events, WSOT 2024 is shaping up to be our most rewarding year yet,” said Joan Han, Sales and Marketing Director at Bybit.
The Flagship Crypto Trading Competition
Bybit has pioneered the format of crypto trading competitions and consistently raised the bar with organic growth of WSOT. Each year, the total prize pool, competition design, weighting system, diversity of challenges, and new elements continue to evolve to improve the fairness, competitiveness and enjoyability of WSOT. 2024 will see the largest prize pool in WSOT history plus exciting prizes such as luxury yachts, Rolex watches, exclusive trips and other enticing rewards.
WSOT is a platform for traders of all skill levels, with a strong emphasis on community. This year, WSOT will feature the decentralized platform for the first time with the launch of WSOT DEX Wave, which includes its own prize pool.
Follow the longest running and largest trading competition in crypto: WSOT 2024.
#Bybit / #TheCryptoArk / #WSOT2024
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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View original content:https://www.prnewswire.co.uk/news-releases/bybit-doubles-down-on-rewards-for-late-entrants-of-wsot-2024-with-new-100-000-prize-pool-302273994.html
Blockchain Press Releases
Crypto Content Creator Campus (CCCC) Unveils Star-Studded Speaker Lineup for Inaugural Event
DUBAI, UAE, Oct. 11, 2024 /PRNewswire/ — The Crypto Content Creator Campus (CCCC), the premier annual gathering for the crypto community, is thrilled to unveil its impressive lineup of confirmed speakers for the inaugural event taking place from November 8th to 10th in Dubai.
This powerhouse roster brings together leading figures in social media, marketing, finance, and the blockchain space, offering attendees unparalleled access to expert insights and invaluable industry connections.
Influencer Powerhouse Speakers:
Randi Zuckerberg, Founder & CEO, Zuckerberg Media and HUG: A pioneer in leveraging technology for social impact, Randi Zuckerberg will share her expertise on building a successful online presence and fostering meaningful connections in the crypto community.
Zach King, Top Global YouTuber: Renowned for his mind-bending illusions and captivating content, Zach King will offer creators unique strategies to capture attention, cultivate engagement, and stand out in the fast-paced digital landscape.
Humphrey Yang, TikTok Finance Influencer: A master of breaking down complex financial concepts into digestible, engaging content, Humphrey Yang will empower creators to navigate the world of crypto finance education with clarity and effectiveness.
Industry Leader Insights:
Kudzi Chikumbu, Ex-Global Head of Creator Marketing at TikTok: Kudzi Chikumbu brings a wealth of knowledge from the leading social media platform and as a successful creator himself. He will offer creators valuable insights into content strategies that resonate on TikTok and leverage its vast global reach.
Jon Youshaei, YouTube & Instagram Insider: With 8 years of experience at YouTube and Instagram, Jon provides a unique perspective on what it actually takes to grow your audience and income through social media. He’ll delve into creator best practices from his experience working at the world’s top social platforms and interviewing some of today’s biggest stars on his show, which has become a go-to source for creator education.
Venke Sharma, Global Head Product Strategy at Sprinklr: Leading product strategist Venke Sharma will shed light on emerging trends in content creation tools and technologies, equipping creators with the knowledge to stay ahead of the curve.
Stephanie Hind, Head of Top Creator Partnerships at Patreon and Ex-Head of Lifestyle and Education at TikTok: Stephanie Hind brings firsthand experience in shaping content trends on a massive platform. She’ll provide creators with actionable strategies for crafting content that resonates with specific audiences within the crypto community.
Quotes from Speakers:
Randi Zuckerberg: “I’m excited to join CCCC and share my insights on building a strong online voice and fostering impactful connections within the dynamic world of crypto.”
Zach King: “I’m looking forward to encouraging creators to break new ground, stretch their creativity, and captivate audiences with their unique content.”
Humphrey Yang: “Demystifying complex financial concepts for a new generation is crucial. I’m excited to share my experience and empower creators to educate audiences about the crypto space in a clear and engaging way.”
Registration for the Crypto Content Creator Campus is now open. Visit the official website to secure your spot at this groundbreaking event.
About Crypto Content Creator Campus (CCCC)
We are a team of industry experts and visionaries committed to shaping the future of content creation within the Web3 and crypto sphere. Driven by a shared passion for creating a high-value community, we’ve curated a campus that promises an experience unlike any other.
For more details about CCCC, please visit: https://www.cccc.buzz/
For inquiries, please contact: [email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/crypto-content-creator-campus-cccc-unveils-star-studded-speaker-lineup-for-inaugural-event-302273983.html
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