transparency

Fostering trust
through transparency

Fostering
trust through transparency

Transparency reports

Transparency reports

As a regulated company, Paxos International maintains a commitment to ensuring up-to-date reports and attestations regarding USDL are made available.

As a regulated company, Paxos International maintains a commitment to ensuring up-to-date reports and attestations regarding USDL are made available.

USDL attestations

Attestation reports are issued by Crowe Mak, an independent third-party accounting firm. This examination is conducted in accordance with standards established by the International Auditing and Assurance Standards Board (ISAAB)*

Examination standards meet the requirements set by USDL's prudential regulator, the Financial Services Regulatory Authority (FSRA) of the ADGM.

2025

2025

2025

2024

2024

2024

USDL smart contract audits

USDL smart contract audits

USDL's smart contracts are audited by the industry's leading blockchain security firms. You can find the latest audit from Certik here.

USDL's smart contracts are audited by the industry's leading blockchain security firms. You can find the latest audit from Certik here.

USDL yield structure and fees illustration

Yield generated by USDL reserves

5.10%

5.10%

Example of potential trailing 7-day average of yield generated by USDL's cash and cash equivalent reserves. Learn more about reserve assets here.

Management fee

0.30%

0.30%

Paxos International retains a 0.30% fee to manage USDL's reserves.

Distribution fee

0.20%

0.20%

Paxos International retains an additional 0.2% fee to promote USDL and pay platforms that list it.

USDL APY rate

4.60%

4.60%

Net yield earned by USDL token holders on a daily basis.

*Rates subject to change, all numbers for illustrative purposes. Annual Percentage Yields (APY) are variable and effective as of 09/25/24. See our homepage for the latest trailing 30 day average APY.

The safety and stability of Paxos International

Highest industry standards

USDL is issued by Paxos International which is regulated by the Financial Services Regulatory Authority (FSRA) in Abu Dhabi Global Market (ADGM) ensuring the highest standards of customer protection.

1:1 redemption

USDL reserves are held 100% in cash and cash equivalents, meaning customer funds are always available for 1:1 redemption.

Asset Protection

Assets are held in reserve accounts under the protection and custody requirements of the Financial Services Regulatory Authority (FSRA), to remain safe and accessible at all times.

FAQ

What is Paxos International?

US dollars backing USDL are invested by Paxos International in cash equivalent assets that generate yield. Learn more about USDL’s reserve composition here.

What is Paxos International?

US dollars backing USDL are invested by Paxos International in cash equivalent assets that generate yield. Learn more about USDL’s reserve composition here.

What is Paxos International?

US dollars backing USDL are invested by Paxos International in cash equivalent assets that generate yield. Learn more about USDL’s reserve composition here.

Is Paxos International regulated?

Is Paxos International regulated?

Is Paxos International regulated?

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© 2025 Paxos Issuance MENA Ltd. All rights reserved.

Paxos Issuance MENA Ltd (“Paxos International”) is licensed and regulated by the Financial Services Regulatory Authority (“FSRA”) to carry on the Regulated Activity of “Providing Money Services” in the Abu Dhabi Global Market (“ADGM”) under Financial Services Permission No. 220167. Its registered office and principal place of business is at Cloud Suite 203, Level 15, Al Sarab Tower, Abu Dhabi Global Market Square, Abu Dhabi, Al Maryah Island, United Arab Emirates. Paxos International issues USDL only to persons who may be classified as Professional Clients under FSRA rules and only supports redemptions for Retail Clients. Paxos Issuance MENA, Ltd is a wholly owned subsidiary of Paxos Holding LLC, incorporated in Delaware. Complaints regarding USDL can be directed to Paxos International here and the FSRA here.

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GET STARTED

Make your dollars start working for you today

© 2025 Paxos Issuance MENA Ltd. All rights reserved.

Paxos Issuance MENA Ltd (“Paxos International”) is licensed and regulated by the Financial Services Regulatory Authority (“FSRA”) to carry on the Regulated Activity of “Providing Money Services” in the Abu Dhabi Global Market (“ADGM”) under Financial Services Permission No. 220167. Its registered office and principal place of business is at Cloud Suite 203, Level 15, Al Sarab Tower, Abu Dhabi Global Market Square, Abu Dhabi, Al Maryah Island, United Arab Emirates. Paxos International issues USDL only to persons who may be classified as Professional Clients under FSRA rules and only supports redemptions for Retail Clients. Paxos Issuance MENA, Ltd is a wholly owned subsidiary of Paxos Holding LLC, incorporated in Delaware. Complaints regarding USDL can be directed to Paxos International here and the FSRA here.

Cookie Policy | Privacy Policy | Cookie Manager

GET STARTED

Make your dollars start working for you today

© 2025 Paxos Issuance MENA Ltd. All rights reserved.

Paxos Issuance MENA Ltd (“Paxos International”) is licensed and regulated by the Financial Services Regulatory Authority (“FSRA”) to carry on the Regulated Activity of “Providing Money Services” in the Abu Dhabi Global Market (“ADGM”) under Financial Services Permission No. 220167. Its registered office and principal place of business is at Cloud Suite 203, Level 15, Al Sarab Tower, Abu Dhabi Global Market Square, Abu Dhabi, Al Maryah Island, United Arab Emirates. Paxos International issues USDL only to persons who may be classified as Professional Clients under FSRA rules and only supports redemptions for Retail Clients. Paxos Issuance MENA, Ltd is a wholly owned subsidiary of Paxos Holding LLC, incorporated in Delaware. Complaints regarding USDL can be directed to Paxos International here and the FSRA here.

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