Global Dollar Network Debuts: A New Era for Cross-Border Payments

Global Dollar Network has been unveiled by leading crypto and fintech companies to redefine cross-border payments through innovative stablecoin adoption.

Major industry players, including Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos, and Robinhood, have joined forces to launch this initiative. The network aims to act as an open platform that encourages participation from banks, custodians, exchanges, and payment fintechs, fostering innovation in global money transfers. Anchorage Digital CEO Nathan McCauley emphasized the potential for rapid peer-to-peer and cross-border settlements, highlighting its transformative impact on digital finance.

USDG: The Backbone of the Global Dollar Network

At the core of this initiative lies USDG, a stablecoin issued by Paxos in Singapore. Designed to comply with the upcoming standards of the Monetary Authority of Singapore, USDG offers a regulated and secure solution for enterprise transactions. Paxos describes it as “a safe and trusted” tool for businesses.
Starting today, USDG is accessible through Anchorage Digital, Galaxy Digital, Kraken, and Paxos, with plans to expand its distribution across all participating partners. DBS Bank, Southeast Asia’s largest and most trusted financial institution, will serve as the primary custodian, managing USDG reserves to ensure liquidity and credibility.

The Global Dollar Network aspires to drive stablecoin adoption while introducing secure, compliant solutions for global enterprises. With USDG as its foundation, the network represents a pivotal move toward revolutionizing cross-border payments and enterprise finance.

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