Pareto launches synthetic dollar backed by private credit

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,” Pareto co-founder Matteo Pandolfi told Cointelegraph in a written statement source: https://cointelegraph.com/news/pareto-launches-synthetic-dollar-backed-by-private-credit?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound