Gate, a leading global cryptocurrency exchange, announced its participation in the Global Dollar Network, aimed at accelerating stablecoin adoption worldwide.
Gate's Participation in Global Dollar Network
Gate announced support for USDG, the US dollar-pegged stablecoin, now accessible to 34 million users on the platform. Gate's entry into the Global Dollar Network signifies a strategic commitment to exploring new possibilities in PayFi.
Stabilization of USDG Across Multiple Blockchains
USDG is now available to Gate's users on Ethereum, Solana, and Ink blockchains. The stablecoin is fully backed 1:1 with US dollars or equivalent liquid assets and regulated by authorities like the Monetary Authority of Singapore and FIN FSA.
Strategic Intentions of Gate and Global Dollar Network
Dr. Han, founder and CEO of Gate, noted that the integration of USDG will foster next-generation global payments and PayFi access. Nick Robnett from Paxos added that the partnership strengthens the network's mission to promote secure stablecoins.
Gate's participation in the Global Dollar Network and the integration of USDG represents a crucial step towards financial inclusivity and the development of a modern financial ecosystem.
