Leading blockchain platform Paxos has launched its new stablecoin, Global Dollar (USDG). This US dollar-backed digital asset complies with the MAS's future requirements. Paxos Digital Singapore issues USDG with MAS monitoring.
USDG intends to boost worldwide stablecoin adoption for regulated institutions with strong operating requirements. The stablecoin launches on Ethereum, with additional blockchains to follow.
Paxos supports USDG with high-quality liquid assets. This ensures a 1:1 parity with the US dollar. Tokens can always be redeemed for money. DBS Bank, Southeast Asia's largest, will handle USDG reserves. This relationship lends legitimacy to the stablecoin.
USDG has joined Paxos' digital assets portfolio. These are PYUSD, USDP, and PAXG. Paxos has a great track record of developing blockchain solutions for financial leaders. The company works with multinational corporations to tokenize, hold, and exchange assets. Its solutions are used by industry giants such as PayPal and MasterCard.
Paxos continues to develop in the digital asset market. USDG shows the company's dedication to creating a speedier, more efficient financial system.
