Crypto News: Global Dollar Network (USDG) Launches with Kraken, Robinhood, and Industry Giants
Global Dollar Network Joins the Stablecoin Race
On November 5, Paxos announced the Global Dollar Network (USDG) launch. This new network aims to accelerate the global use of stablecoins. The USDG launch brings in backing from several industry giants, including Paxos, Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, and Robinhood.
USDG Compliance and Future Plans
Paxos plans to issue USDG from Singapore. The stablecoin will comply with upcoming stablecoin regulations by the Monetary Authority of Singapore. USDG will initially be available on Ethereum, but Paxos plans to release it on other blockchains in the future. Paxos noted that Global Dollar Network will reward almost all returns to its participants.
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