Paxos has launched its stablecoin, Global Dollar (USDG), in the European Union, with the rollout beginning on 1 July.
Regulated under the EU’s Markets in Crypto-Assets (MiCA) framework and overseen by both the Finnish Financial Supervisory Authority (FIN-FSA) and the Monetary Authority of Singapore (MAS), USDG is now accessible to over 450 million consumers across 30 countries.
The stablecoin is available through platforms including Kraken, Gate, Coinmetro, SwissBorg, Zodia Custody, Orbital, Hercle, CoinsPaid, Bitwyre, Bitnet and HiFi.
It is supported on Ethereum, Solana and Ink blockchains.
USDG underpins the Global Dollar Network (GDN), an open ecosystem backed by companies such as Robinhood, Anchorage Digital, Worldpay, Mastercard and Fiserv.
It aims to accelerate adoption of stablecoins in real-world financial use cases.
Founding members include Paxos, Kraken, Robinhood, Bullish, Galaxy Digital, Nuvei and Anchorage Digital.
The token was first issued in November 2024 by Paxos Digital Singapore Pte. Ltd. and has remained substantially compliant with Singapore’s upcoming stablecoin framework.
With its entry into the European market, Paxos Issuance Europe will now hold a portion of USDG reserves with European banking partners to meet MiCA requirements.
The company said it continues to work closely with MAS on a transition plan to ensure ongoing compliance.
USDG will remain redeemable at par for all holders, regardless of where it is redeemed.
Walter Hessert
“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.”
said Walter Hessert, Head of Strategy at Paxos, the issuer of USDG.
Mark Greenberg
“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.”
said Mark Greenberg, Global Head of Consumer at Kraken.
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Wyden, a Zurich-based provider of institutional digital asset trading infrastructure for regulated institutions, has formed a strategic partnership with Garanti BBVA Kripto, a subsidiary of Garanti BBVA, one of Turkey’s largest banks.
The collaboration aims to enhance Garanti BBVA Kripto’s digital asset trading services for both retail and corporate clients.
Through the partnership, Garanti BBVA Kripto will offer trading pairs in Turkish Lira and US Dollar, alongside cryptocurrency-to-cryptocurrency trades.
This is expected to broaden local market access to digital assets and support a more seamless trading experience for Turkish users.
Wyden’s infrastructure integrates multiple liquidity sources to support optimal price discovery and best execution, in line with evolving regulatory
Turkish Bank Garanti BBVA Kripto Partners with Wyden to Enhance Digital Asset Trading
