Paxos stablecoin USDG expands to Solana

Global Dollar, the stablecoin emitted by PAXOS Digital Singapore, goes multichain with the expansion in Solana.

The global dollar network announcement On February 25, that the US dollar set the stablecoin, that PAXOS presented November 1, 2024, was now available on Solana (GROUND).

PAXOS ‘Affiliate, The Paxos Digital Singapore Pte. LTD, is the transmitter of the world dollar (USDG) and is an entity regulated by the monetary authority of Singapore.

At the time of the initial launch, Paxos said that its subsidiary regulated in Mas would associate itself with crypto exchanges, portfolios and blockchain platforms to accelerate USDG distribution to individuals and institutions. The USDG token initially launched on Ethereum.

According to the announcement, institutions can access the USDG on Solana via Digital and Kraken Anchorage.

“The launch of the USDG on Solana will accelerate the adoption of the stable reserve for payments and finance worldwide, and would release new opportunities for retail companies and users,” said Lily Liu, President of Solana Foundation.

Partners who have joined the Global Dollar Network and will join the USDG include the Alfred payment infrastructure company, the Brazilian Fintech Caliza and the TRUS Payments Noah. Others are cryptographic platforms of rain and sling.

Global Dollar Network will collaborate with these partners to stimulate the adoption of the USDG on Solana. Targeted use cases include card payments, cross -border transfers, funding and treasury management.

Commenting on integration, Ezra Kebrab, founder and chief executive officer of Caliza, noted:

“The future of finance is without border and the stablecoins make it a reality. Joining the USDG network allows Caliza to decompose obstacles to the economic opportunity. Now companies around the world can benefit from access to financial products labeled in dollars that are safe and regulated. »»

The Stablescoin market has increased considerably in the midst of regulatory changes and greater adoption. While the USDT of Tether and USDC de Circle constitute the two most important by market share, other players make breakthroughs while the markets open in Latin America, the Middle East and Africa.

The suite of PAXOS Stablecoin products targeting this growth potential includes Pax Dollar (USDP) and PAX GOLD (PAXG).

The company also issues Paypal USD (Pyusd) as well as the Dollar of Lifting of Stables Coin.