Major firms like Robinhood, Kraken, and Paxos back the Global Dollar (USDG) stablecoin.
The reserves for USDG will be managed by DBS Bank, Southeast Asia’s largest bank.
A group of major players in the fintech and crypto world—Robinhood, Kraken, Galaxy Digital, and Paxos—have launched a new stablecoin, the Global Dollar (USDG), pegged to the US dollar and aimed at boosting accessibility and rewarding community engagement. [1 / 4] Today, we’re launching Global Dollar Network (@global_dollar ) — an open network to accelerate and reward global stablecoin adoption. Additional partners include @Anchorage, @Bullish, @galaxyhq, @krakenfx, @Nuvei and @RobinhoodApp.
View the press release …
— Paxos (@Paxos) November 4, 2024
USDG Introduces Unique Yield-Sharing Structure for Participants
According to the Monday announcement, the USDG’s unique value proposition. Unlike traditional stablecoins, USDG will share a significant portion of the yield earned from its reser
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