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Paxos launches the USDG stablecoin in Europe
Paxos has just launched a new stablecoin called Global Dollar (USDG), backed 1:1 by USD and supported by major partners such as Robinhood, Kraken, Galaxy Digital, and Anchorage Digital. USDG is issued in Europe by Paxos Issuance Europe OY – an organization in Finland licensed under the EU's MiCA framework.
USDG is now listed on Kraken, Gate, CoinsPaid, and Zodia Custody, circulating on Ethereum, Ink, and Solana, providing a regulatory-compliant stablecoin option for 450 million EU residents.
Launched in November 2024, USDG is at the center of the Global Dollar Network (GDN), an alliance of major players in the industry aimed at promoting the use of stablecoins.
According to CoinGecko, USDG currently has a market capitalization of 322 million USD, competing with USDT and USDC – two stablecoins that account for nearly 90% of the global market worth 160 billion USD.