Global Dollar USDG Goes Live in Europe Backed by Major Finance Giants

Paxos Launches USDG Stablecoin Across Europe, Expanding the Global Dollar Network

Paxos, a leading blockchain infrastructure firm, has officially launched its new USD-backed stablecoin, USDG, across the European Union, marking a major step toward making digital dollars a part of everyday life for millions. The rollout follows comprehensive approvals from major financial regulators, including the European Union under MiCA, Finland’s Financial Supervisory Authority (FIN-FSA), and the Monetary Authority of Singapore (MAS).

Now available on top cryptocurrency exchanges such as Kraken and Gate.io, USDG is accessible to a potential user base of over 450 million people across 30 countries. The stablecoin is part of the Paxos-led Global Dollar Network (GDN), a coalition of top financial and crypto companies aiming to expand the practical use of digital dollars worldwide.

Backed by Regulation, Designed for the Real World

USDG is issued by Paxos Digital Singapore and backed 1:1 with U.S. dollar reserves, ensuring stability and confidence for users globally. It is supported by major partners such as Robinhood, Mastercard, Worldpay, Kraken, and others, reflecting growing institutional confidence in regulated stablecoins as reliable financial tools.

To comply with EU laws, Paxos will maintain a portion of USDG’s reserve funds within European banks, aligning with MiCA requirements for stablecoin issuers. In Singapore, the company continues to engage closely with MAS to ensure USDG meets the highest regulatory standards as new rules around stablecoins take shape.

Walter Hessert, Head of Strategy at Paxos, emphasized, “USDG meets the world’s top safety standards. Our mission is to build digital money that people can trust for everyday use, and strong regulatory frameworks help us deliver on that promise.”

Broad Adoption Across Platforms and Blockchains

The adoption of USDG is not limited to a few exchanges. It is already being utilized by major crypto platforms and payment processors, including Coinmetro, SwissBorg, Zodia Custody, Bitnet, CoinsPaid, Orbital, Bitwyre, and HiFi, highlighting its rapid integration into the crypto economy.

USDG operates across key blockchain networks, including Ethereum, Solana, and Ink, allowing users to transact and transfer stablecoins efficiently with lower fees and high speed. This cross-chain operability makes USDG a versatile tool for payments, trading, remittances, and digital services.

Mark Greenberg, Global Head of Consumer at Kraken, stated, “Stablecoins like USDG are becoming a key part of digital finance. By working with Paxos, we are helping more people safely and easily use digital dollars for everyday transactions, not just for trading.”

The Power of the Global Dollar Network

The Global Dollar Network represents a new model for stablecoin growth and adoption. It brings together a network of leading financial institutions and crypto companies that aim to establish stablecoins as the backbone of a fair, transparent, and efficient global payment system.

Partners in the GDN are rewarded for their participation, fostering a cooperative ecosystem designed to grow the practical use of stablecoins while maintaining the highest levels of safety and regulatory compliance.

By anchoring USDG to the U.S. dollar and embedding it within regulated frameworks across Europe, Asia, and other regions, Paxos and its partners in the GDN are paving the way for a new generation of cross-border payments and decentralized finance applications.

Why Stablecoins Matter for the Future of Finance

Stablecoins have emerged as one of the most significant innovations in digital finance, providing a stable, easily transferable, and blockchain-based alternative to traditional fiat transactions. They address the volatility concerns of cryptocurrencies like Bitcoin while enabling instant and low-cost payments worldwide.

The launch of USDG comes at a time when businesses and individuals alike are seeking better, faster, and safer methods to transact in the global economy. By using a regulated stablecoin, users can avoid the high fees and delays associated with traditional cross-border banking, while also participating in the growing digital finance ecosystem.

In Europe, where the adoption of digital finance solutions is accelerating, USDG’s entry offers consumers and businesses a reliable alternative to existing payment methods, aligning with the region’s push toward digitalization and financial inclusion.

Reinforcing Trust Through Transparency

One of the core challenges facing the stablecoin market has been ensuring transparency and maintaining trust among users and regulators. Paxos addresses this by ensuring that every USDG is fully backed by U.S. dollar reserves, with independent audits conducted regularly to verify holdings.

This transparency, combined with the company’s regulatory licenses in strict jurisdictions such as Singapore, positions USDG as one of the safest stablecoins in the market, providing peace of mind to users regardless of their location.

As Hessert noted, “Trust is built through transparency, compliance, and reliability. We have designed USDG to meet these principles while advancing the goal of making digital dollars usable for daily transactions around the world.”

What This Means for Consumers and Businesses

The launch of USDG in Europe means consumers now have a trusted, secure stablecoin for sending money, making purchases, and participating in the digital economy with ease. Businesses can use USDG to settle cross-border transactions instantly without the complexities of traditional banking systems.

Moreover, for crypto exchanges and payment platforms, integrating USDG offers their users a seamless on-ramp and off-ramp to digital dollars, enhancing user experience and driving higher adoption.

As the digital economy evolves, stablecoins like USDG are set to become the backbone of global transactions, offering a modern alternative to legacy payment systems that often struggle with high costs and delays.

The Road Ahead

Paxos’ successful rollout of USDG across Europe is only the beginning. With plans to expand further into Asia and other markets, the company is committed to building a robust, compliant, and scalable infrastructure for digital dollars globally.

Future developments may include deeper partnerships with banks, payment processors, and fintech companies to expand the practical use cases of USDG. The ultimate goal is to make digital dollars as universally accepted and trusted as their fiat counterparts.

Conclusion: Ushering in a New Era for Digital Dollars

The launch of USDG marks a significant milestone in the journey to mainstream stablecoin adoption. Backed by robust regulatory frameworks, trusted by top financial institutions, and integrated across leading exchanges and platforms, USDG offers a new, safer, and more efficient way for people to use digital dollars in their everyday lives.

As stablecoins continue to gain importance in global finance, Paxos and its partners in the Global Dollar Network are poised to lead this transformation with a commitment to transparency, safety, and user-centric innovation.

For consumers, businesses, and the broader crypto ecosystem, USDG represents a clear signal that the future of digital payments is here—and it is regulated, secure, and designed for everyone.

Source: https://www.coingabbar.com/en/crypto-currency-news/global-dollar-usdg-gains-eu-approval-with-major-partners

Writer @Ellena

Ellena is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

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