The Global Dollar (USDG) Stablecoin launched the European Union, along with the Paxos that claimed to follow region markets in the regulation of crypto-assets (MICA) assets, as well as administration from the Finnish Financial Supervisory Authority and Singapore’s Central Bank.
According to a Tuesday announcementThe Paxos released by the USDG will be available to the EU through partners including major crypto exchanges Kraken and Gate. Other platforms that offer stablecoin include coinmetro, swissborg, zodia custody, orbital, hercle, coinspaid, bitwyrem, bitnet and hifi.
Paxos USDG has issued Europe through Paxos Issuance Europe Oy, a Finland-based creature administered by the country’s financial administration authority. Stablecoin is structured to align with MICA regulations, with a portion of cash reserves held on European banks. Paxos said it guarantees one-to-one redemption and adheres to the strict reserves and audit of MICA.
Mark Greenberg, global consumer leader in Kraken, said that “While Stablecoins became the main infrastructure for global finance, the USDG stands for the usual and growing ecosystem.”
Related: FATF warning to Stablecoin crimes is not anti-crypto, Intel companies say
Infrastructure of the Global Dollar
Expansion in Europe comes next to the wider Global Dollar Network (GDN), a Stablecoin infrastructure initiative supported by Paxos, Kraken, Robinhood, Digital Anchorage, WorldPay and more than 20 additional financial and Fintech companies. Mastercard recently joined the GDN initiative and announced It will support the USDG, a sign of interest from traditional finances.
This expansion follows the Late 2024 Launching of the Global Dollar Network in collaboration with Robinhood, Galaxy Digital, Kraken and Paxos.
Magazine: Circle applies for US Trust Bank Charter to manage its USDC reserve
Walter Hessert, head of the Paxos strategy, said, “Demand for Stablecoins continues its rapid climb.” According to the recently -what Data from the tokenization tracker tracker of tokenization of RWA.xyzStablecoins reached a $ 239 billion market capitalization in late June, with that figure rising to $ 253.85 billion at the time of writing, According to In Defillama.
A recent Crypto Exchange Coinbase report also shows that The interest in using stablecoins is three times Year-on year since 2024. “This growth is encouraged by the belief in consumers and both the F500 and SMBS that Stablecoins can help meet some of their biggest financial disease points,” Coinbase said.
According to data since late May, The $ 94.2 billion in Stablecoin transactions has been fixed Between January 2023 and February 2025. “Overall, Stablecoins established themselves as growing and significant parts of the global payment infrastructure,” the report stated.
Data also shows that the Ani-Bearing Stablecoins have The increase of $ 11 billion in circulationrepresenting 4.5% of the total Stablecoin market. This indicates rapid growth, which has increased from just $ 1.5 billion and a 1% part of the market at the start of 2024.
Magazine: The Genius Act reopened the door for a meta stablecoin, but would it work?
