{"id":97011,"date":"2026-05-11T20:54:23","date_gmt":"2026-05-11T17:54:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=97011"},"modified":"2026-05-11T20:55:44","modified_gmt":"2026-05-11T17:55:44","slug":"anchorage-digital-to-withdraw-from-global-dollar-network-stablecoin-initiative","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/anchorage-digital-to-withdraw-from-global-dollar-network-stablecoin-initiative\/","title":{"rendered":"Anchorage Digital to Withdraw from Global Dollar Network Stablecoin Initiative"},"content":{"rendered":"<p>The licensed crypto bank Anchorage Digital will cease its participation in the Global Dollar Network consortium, which is behind the promotion of the <a href=\"https:\/\/forklog.com\/en\/news\/what-are-stablecoins\">stablecoin<\/a> USDG, as reported by <a href=\"https:\/\/www.coindesk.com\/business\/2026\/05\/11\/anchorage-is-stepping-back-from-robinhood-and-kraken-backed-stablecoin-group\">CoinDesk<\/a>.\u00a0<\/p>\n<p>The consortium, <a href=\"https:\/\/forklog.com\/en\/news\/paxos-robinhood-and-kraken-collaborate-to-promote-usdg-stablecoin\">established in 2024<\/a>, also includes Galaxy Digital, OKX, <a href=\"https:\/\/forklog.com\/en\/news\/visa-joins-usdg-stablecoin-consortium\">Visa<\/a>, Worldpay, Bullish, Robinhood, Kraken, and Paxos Digital (the token issuer).\u00a0<\/p>\n<p>USDG is regulated by the Monetary Authority of Singapore, with the market capitalization of the US dollar-pegged asset standing at approximately $3 billion.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe continue to support this project, want it to succeed, and remain a part of it. However, we probably no longer play as leading a role as before,\u201d said Anchorage co-founder and CEO Nathan McCauley in an interview.<\/p>\n<\/blockquote>\n<p>According to him, instead of actively promoting USDG, the company intends to adopt a more neutral approach. Anchorage has itself become a stablecoin issuer, and currently, around 20 banks and tech giants are considering the possibility of jointly issuing tokens with it.<\/p>\n<p>In May, the money transfer service Western Union <a href=\"https:\/\/forklog.com\/en\/news\/western-union-introduces-stablecoin-on-solana-platform\">utilized Anchorage&#8217;s services<\/a> for the issuance of the USDPT coin, created on <a href=\"https:\/\/forklog.com\/en\/news\/what-is-solana-sol\">Solana<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAs we have become a branded issuer for many groups, you start to think about the incentive structure and whether everything still aligns with reality,\u201d McCauley added.<\/p>\n<\/blockquote>\n<p>Earlier, <span data-descr=\"Chief Investment Officer\" class=\"old_tooltip\">CIO<\/span> of Bitwise Matt Hougan <a href=\"https:\/\/forklog.com\/en\/news\/bitwise-corporations-to-propel-stablecoins-to-4-trillion-market-cap\">predicted the growth<\/a> of the stablecoin segment&#8217;s capitalization to $4 trillion, driven by partnerships between corporations and crypto projects.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The licensed crypto bank Anchorage Digital will cease its participation in the Global Dollar Network consortium, which is behind the promotion of the stablecoin USDG, as reported by CoinDesk.<\/p>\n","protected":false},"author":1,"featured_media":97012,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Anchorage Digital exits Global Dollar Network, ceasing USDG stablecoin promotion.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1991,807],"class_list":["post-97011","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-anchorage","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"6","promo_type":"1","layout_type":"1","short_excerpt":"Anchorage Digital exits Global Dollar Network, ceasing USDG stablecoin promotion.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/97011","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=97011"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/97011\/revisions"}],"predecessor-version":[{"id":97013,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/97011\/revisions\/97013"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/97012"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=97011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=97011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=97011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}