Global Dollar (USDG) Stablecoin Launched by Industry Giants

• Paxos, Robinhood, Bullish, and more companies have debuted Global Dollar (USDG).
• The new USDG stablecoin has been built atop the Ethereum blockchain.
• DBS Bank has been named as the primary banking partner for the Global New Dollar project.

Major players in the digital asset industry, including Robinhood, Paxos, Kraken, Nuvei, Bullish, Anchorage, and Galaxy Digital, have partnered to launch a new stablecoin called the Global Dollar (USDG). The stablecoin network, known as Global New Dollar, aims to “accelerate stablecoin usage worldwide.”

According to a press release, USDG is built on the Ethereum (ETH) blockchain and focuses on expanding the adoption of blockchain-based fiat currencies globally. The project invites a wide range of market participants to join, including custodians, exchanges, payment fintechs, merchants, protocols, card networks, banks, and investment platforms.

Read also: Stablecoins and Blockchain Drive Demand for US Treasuries: Report

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