Paxos has joined forces with several major industry players to launch the Global Dollar Network, a strategic initiative aiming to speed up stablecoin adoption worldwide. The partnership includes notable names such as Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, and Robinhood. By pooling resources, these partners intend to drive stablecoin adoption and unlock new real-world applications.
The Global Dollar Network addresses challenges common to most stablecoins, which often struggle to meet enterprise-level customer protection standards. The USD-backed stablecoin, USDG, is designed to align with Singapore’s forthcoming stablecoin regulations, and is expected to roll out to the networks of other distribution partners soon.
