{"id":18326,"date":"2024-11-05T10:23:25","date_gmt":"2024-11-05T08:23:25","guid":{"rendered":"https:\/\/forklog.com\/en\/paxos-robinhood-and-kraken-collaborate-to-promote-usdg-stablecoin\/"},"modified":"2024-11-05T10:23:25","modified_gmt":"2024-11-05T08:23:25","slug":"paxos-robinhood-and-kraken-collaborate-to-promote-usdg-stablecoin","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/paxos-robinhood-and-kraken-collaborate-to-promote-usdg-stablecoin\/","title":{"rendered":"Paxos, Robinhood, and Kraken Collaborate to Promote USDG Stablecoin"},"content":{"rendered":"<p>Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos, and Robinhood have joined forces to establish a &#8220;global dollar network.&#8221; <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">[4\/4] This is just the beginning. <\/p>\n<p>Join the new frontier: <a href=\"https:\/\/t.co\/lKjnbabUaJ\">https:\/\/t.co\/lKjnbabUaJ<\/a> <a href=\"https:\/\/t.co\/ugHpsFJYZS\">pic.twitter.com\/ugHpsFJYZS<\/a><\/p>\n<p>\u2014 Paxos (@Paxos) <a href=\"https:\/\/twitter.com\/Paxos\/status\/1853562083868115068?ref_src=twsrc%5Etfw\">November 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The Global Dollar Network aims to accelerate the adoption of stablecoins worldwide. At its core is a &#8220;new, secure, and reliable stablecoin&#8221; USDG. On November 1, it was issued by Paxos in compliance with the Monetary Authority of Singapore&#8217;s requirements. <\/p>\n<p><script async src=\"https:\/\/telegram.org\/js\/telegram-widget.js?22\" data-telegram-post=\"forklog\/40607\" data-width=\"100%\"><\/script><\/p>\n<p>The firm acts as the issuer of PayPal USD (PYUSD), Pax Dollar (USDP), and Pax Gold (PAXG).<\/p>\n<p>Southeast Asia&#8217;s largest bank, DBS Bank, serves as the custodian for managing the cash underpinning USDG&#8217;s reserves.<\/p>\n<p>The token operates on the Ethereum network, with plans for issuance on other blockchains. Users of Anchorage Digital, Galaxy Digital, Kraken, and Paxos can access it on their respective platforms.<\/p>\n<p>A key feature of USDG is <a href=\"https:\/\/www.coindesk.com\/business\/2024\/11\/04\/new-global-dollar-stablecoin-backed-by-robinhood-kraken-paxos-and-other-crypto-heavies\/?utm_medium=referral&#038;utm_source=rss&#038;utm_campaign=headlines\">revenue distribution<\/a> among network participants (not end users). The organization&#8217;s profit size depends on its contribution to the token&#8217;s development.<\/p>\n<p>The project team invites all interested institutions to join the Global Dollar Network.<\/p>\n<p>Back in June, Paxos <a href=\"https:\/\/forklog.com\/en\/news\/paxos-unveils-5-yield-stablecoin-usdl\">introduced<\/a> the USDL stablecoin, which offers holders a &#8220;risk-free&#8221; yield of approximately 5%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos, and Robinhood have joined forces to establish a &#8220;global dollar network.&#8221; [4\/4] This is just the beginning. Join the new frontier: https:\/\/t.co\/lKjnbabUaJ pic.twitter.com\/ugHpsFJYZS \u2014 Paxos (@Paxos) November 4, 2024 The Global Dollar Network aims to accelerate the adoption of stablecoins worldwide. At its core is a &#8220;new, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18325,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[193,1504,1234,807],"class_list":["post-18326","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-kraken","tag-paxos","tag-robinhood","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"32","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18326","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=18326"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18326\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/18325"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=18326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=18326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=18326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}