Crypto giants unite to launch new stablecoin
A consortium of big firms in the crypto-space have joined forces to introduce a new stablecoin onto the global market, pegged to the US dollar and with a focus on meeting regulatory standards and consumer protections.
The newly formed Global Dollar Network, formed initially by partnership between Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos and Robinhood, has been described as an open network to accelerate and reward global stablecoin adoption, and expand real world use cases.
Issued out of Singapore by Paxos, the network claims that their Global Dollar (USDG) is already compliant with the Monetary Authority of Singapore’s upcoming stablecoin framework, and the consortium have…
