Paxos, based in Singapore, has launched the Global Dollar (USDG) stablecoin in compliance with the upcoming stablecoin regulations from the Monetary Authority of Singapore (MAS). USDG, supported by leading companies in the cryptocurrency sector, will distribute the returns generated from its reserve assets to participants embracing the network.
Next-Generation Stablecoin Model
The Global Dollar (USDG) is developed in collaboration with industry giants such as Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos, and Robinhood. Paxos CEO Charles Cascarilla stated that USDG is designed as a “community-focused token,” allowing everyone to join the “Global Dollar Network” and earn rewards for activities on the network. “We distribute a significant portion of economic sharing, around 97%. This is a highly innovative approach in the stablecoin world,” he added.
While established players like USDT and USDC hold substantial market share, USDG stands out with its unique operational model. Unlike Tether and Circle, which retain all revenue generated from reserves, USDG will distribute rewards to participating companies for activities such as providing liquidity and connectivity.
Reward System for Participants
The USDG stablecoin will be available in the U.S. through distributors like Anchorage, which operates in all U.S. states, ensuring broad accessibility. Furthermore, Paxos will collaborate with DBS Bank, the largest bank in Southeast Asia, for cash management and reserve custody, aiming to establish a stable and secure infrastructure.
It is important to highlight that Anchorage operates across all U.S. states.
