Stablecoin

Ethereum

Dollar

Major

Global Dollar

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/leading-companies-collaborate-to-launch-global-dollar-network-stablecoin/" data-wpel-link="internal">Leading Companies Collaborate to Launch Global Dollar Network Stablecoin</a> 
The broad adoption of <a href="https://en.coin-turk.com/analyst-predicts-potential-drop-in-cryptocurrency-market/" data-wpel-link="internal">cryptocurrencies</a> requires the expansion of stablecoin usage. A significant step has been taken in this domain. A new initiative involving several major players may create substantial impact. 
<h2 style="text-align: justify" id="what-is-usdg">What is USDG?</h2> 
Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos, and Robinhood have partnered to introduce a new stablecoin called the Global Dollar Network. This initiative marks the beginning of a new process that unites the power of many giants to promote global stablecoin adoption. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-403592 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/11/paxos-.png" alt="" width="660" height="220"> 
Paxos will issue the <a href="https://en.coin-turk.com/meme-coins-show-signs-of-recovery-amidst-market-fluctuations/" data-wpel-link="internal">token</a> in accordance with regulations, while custodians, exchanges, payment technology firms, and other major players in the financial sector will be able to join the network. Arjun Sethi, Co-CEO of Kraken, stated: 
<blockquote> 
 “The lack of competition in the regulated stablecoin market has hindered the sector’s full potential. USDG reverses this dynamic with a fairer model that will bring mainstream participants into the ecosystem and accelerate new stablecoin use cases.” 
</blockquote> 
Singapore’s banking giant DBS Bank will serve as the custodian of the stablecoin’s reserves. Although USDG will initially be available on the Ethereum network, it aims to expand to as many networks as possible swiftly. 
The post <a href="https://en.coin-turk.com/leading-companies-collaborate-to-launch-global-dollar-network-stablecoin/" data-wpel-link="internal">Leading Companies Collaborate to Launch Global Dollar Network Stablecoin</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Leading Companies Collaborate to Launch Global Dollar Network Stablecoin

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