Paxos Introduces Global Stablecoin Backed by Crypto Giants Robinhood, Kraken, More
A new regulation-focused stablecoin, the Global Dollar (USDG), has been introduced by Paxos, with the backing of crypto industry leaders.
Partners of the Global Dollar Network include Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, and Robinhood.
USDG is issued out of Singapore by Paxos, which is regulated by the Monetary Authority of Singapore (MAS) and is broadly in line with the regulator’s upcoming stablecoin framework.
Available on Ethereum, with plans for expansion to her blockchains soon, USDG is fully backed by high-quality, liquid assets such as US dollar deposits, short-term U.S. government securities, and similar cash-equivalent assets, the company said.
This backing structure ensures that USDG maintains a…
