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Paxos has joined forces with major industry players to launch the Global Dollar Network, a strategic initiative aimed at accelerating stablecoin adoption worldwide.
The partnership, announced on Nov.
A swathe of major firms from traditional finance have partnered to launch the Global Dollar Network, a regulation-compliant network designed to accelerate the adoption of stablecoins.
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Blockchain infrastructure company Paxos, in conjunction with Singaporean bank DBS, has introduced a new stablecoin known as Global Dollar (USDG). This development comes four months after Paxos secured approval to offer digital payment token services as a Major Payments Institution (MPI).
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Paxos launches USDG, a Singapore-compliant stablecoin, partnering with DBS Bank for US dollar reserves in line with Singapore’s MAS framework.
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Paxos CEO Charles Cascarilla recently issued a letter to both Republican and Democratic candidates Donald Trump and Kamala Harris, highlighting the critical role the next presidential administration will play in determining America’s position in the crypto and global financial landscape.
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In an open letter to Donald Trump and Kamala Harris, Charles Cascarilla highlighted the role of stablecoins in maintaining the US dollar’s global dominance and improving banking efficiency.
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