Pareto launches USP, backed by stablecoins USDC and USDT

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Private credit marketplace Pareto has introduced a new synthetic dollar aimed at linking institutional investors with decentralized finance (DeFi) opportunities — a move that highlights the expanding role of stablecoins in global finance.

The newly launched USP synthetic dollar is fully backed by real-world private credit, Pareto told Cointelegraph on May 15. To mint USP, users must deposit stablecoins such as USDC (USDC) and USDt (USDT), which are then held as collateral.

“USP is backed 1:1 by the stablecoins used during the minting process,”…



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Pareto launches USP, backed by stablecoins USDC and USDT


Private credit marketplace Pareto has introduced a new synthetic dollar aimed at linking institutional investors with decentralized finance (DeFi) opportunities — a move that highlights the expanding role of stablecoins in global finance.

The newly launched USP synthetic dollar is fully backed by real-world private credit, Pareto told Cointelegraph on May 15. To mint USP, users must deposit stablecoins such as USDC (USDC) and USDt (USDT), which are then held as collateral.

“USP is backed 1:1 by the stablecoins used during the minting process,”…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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