Robinhood, Kraken, and Paxos Launch Global Stablecoin Network

The new USDG stablecoin aims to boost global adoption and share economic benefits among its partners.

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.