Global Dollar (USDG).
USDG is controlled by European markets in crypto-assets (Mica)The Finnish Financial Supervisory Authority (Fin-FSA)and Singapore’s financial authority (But)Paxos said in a statement.
Demand for US dollar supported by Stablecoins is growing in Europe where the USDC’s USDC token is the largest choice of MICA controlled. The USDG will make a significant impact as an alternative choice, Paxos said.
“The USDG is a fully controlled global USD-stablecoin that follows MICA and is now available to the EU, a testament to our commitment to offer global digital properties administered by thorough regulators and also meets the highest criteria of consumer protection,” said Walter Hessert, head of Paxos.
Fulfilling the requirements under EU’s MICA regulation is required that the Paxos Issuance Europe, which is controlled by FIN-FSA, holds part of the USDG reserve assets with European banking partners, Paxos said.
