From CoinTelegraph
May 15, 2025 6:00 am:

Private credit marketplace Pareto has launched a new synthetic dollar backed by real-world private credit, connecting institutional investors with DeFi opportunities. The USP token is fully backed by stablecoins like USDC and USDt, generating yields for participants through lending to vetted borrowers. Pareto ensures USP’s stability through a native backing process and a stability reserve. Institutional investors can now access the RWA credit market through the synthetic dollar, bridging the gap between traditional finance and DeFi innovations. Pareto emphasizes transparency, risk management, and efficiency in its approach to private credit markets. Despite the success of synthetic dollars like USP, collateralized stablecoins continue to dominate the market, with US regulators keen on preserving their position. Stablecoins play a critical role in supporting the global use of the US dollar as a reserve currency. The stablecoin market is rapidly approaching $250 billion, with Tether accounting for a significant portion. US regulators are prioritizing stablecoin legislation to ensure the primacy of the US dollar in the global financial landscape.

Read more at CoinTelegraph: Pareto launches USP, backed by stablecoins USDC and USDT