Overview

• The Global Dollar Network introduces USDG, a stablecoin issued by Paxos in Singapore, targeting worldwide stablecoin usage.
• The network includes major players like Robinhood, Kraken, Galaxy Digital, Anchorage Digital, Bullish, and Nuvei.
• USDG is designed to distribute nearly all reserve income among network participants, differing from traditional stablecoin models.
• Despite its launch, USDG faces competition from dominant market players Tether and USD Coin, which hold 90% of the market share.
• The initiative aligns with expectations of increased U.S. regulatory acceptance of digital assets, regardless of election outcomes.