Robinhood, Kraken, Paxos, and other major financial firms have joined forces to introduce the Global Dollar Network, a regulated platform to boost stablecoin adoption globally. Led by Paxos, the network supports USDG, a stablecoin pegged to the US dollar and initially available on the Ethereum blockchain. Issued from Singapore, USDG complies with local regulatory frameworks and is backed by reserves managed by DBS Bank. The consortium aims to create an open, equitable ecosystem to expand stablecoin use cases, challenging dominant players like Tether and Circle’s USDC.

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