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Global Dollar (USDG), a stablecoin regulated under the EU’s Markets in Crypto-Assets (MiCA) framework, the Finnish Financial Supervisory Authority (FIN-FSA), and the Monetary Authority of Singapore (MAS), has launched for consumers throughout the European Union.
Issued by Paxos and backed by the Global Dollar Network (GDN), USDG is presented as a fully compliant, global stablecoin now accessible to more than 450 million consumers across 30 countries. The launch comes amid rapid growth in Europe’s crypto ecosystem and increasing demand for U.S. dollar-backed stablecoins.
USDG is now available through a range of industry partners, including Kraken, Gate, Coinmetro, SwissBorg, Zodia Custody, Orbital, Hercle, CoinsPaid, Bitwyre, Bitnet, and HiFi. The stablecoin is currently live on Solana, Ethereum, and Ink blockchains.
Walter Hessert, Head of Strategy at Paxos
Walter Hessert, Head of Strategy at Paxos, said:
“As demand for stablecoins continues its rapid ascent, Paxos is incredibly proud to introduce USDG to the European market. USDG is a fully regulated global USD-stablecoin that is compliant with MiCA and now available in the EU, a testament to our commitment to offering global digital assets that are supervised by prudential regulators and also meet the highest standards of consumer protection. We’re excited to partner with some of the leading players in Europe to bring this leading standard of compliance to more than 450 million consumers in the European Union.”
Mark Greenberg, Global Head of Consumer at Kraken
Mark Greenberg, Global Head of Consumer at Kraken, commented:
“As stablecoins become core infrastructure for global finance, USDG stands out for its usability and growing ecosystem. Our focus is always on giving clients better tools to navigate the crypto economy, and supporting USDG’s expansion into Europe helps us connect more clients to the digital dollar economy.”
USDG powers the Global Dollar Network, an open network aiming to accelerate stablecoin adoption worldwide. Partners in this network include Anchorage Digital, Kraken, Paxos, Robinhood, Worldpay, and over 20 other fintech and financial services firms. Mastercard and Fiserv have also recently joined the ecosystem.
Since its initial launch in November 2024, USDG has been issued by Paxos Digital Singapore Pte. Ltd. in substantial compliance with MAS’s forthcoming stablecoin framework. To meet MiCA requirements, Paxos Issuance Europe, regulated by FIN-FSA, is required to hold a portion of USDG reserve assets with European banking partners. Paxos is currently consulting with MAS on a transition plan to remain compliant with Singapore’s regulatory developments.
Safeguards are in place to ensure that USDG remains redeemable at par for all holders, regardless of redemption location, in line with regulations from both MAS and the EU.
Paxos holds a Major Payment Institution (MPI) licence from MAS, underscoring its status as a regulated service provider under Singaporean oversight.
The launch of USDG in the EU represents a significant development in the regulated stablecoin market, as major industry players continue to collaborate on expanding digital asset adoption and infrastructure across global markets.
