Paxos has announced the launch of its stablecoin Global Dollar in the European Union, compliant with the region's new regulatory requirements.
Launch in the European Union
The launch was announced on July 1 in a press release by Paxos, stating that the coin fully complies with the Markets in Crypto-Assets Regulation (MiCA) and is regulated by Finland’s Financial Supervisory Authority.
About the Stablecoin USDG
USDG is not a new stablecoin. It is available on the Ethereum, Solana, and Kraken's Ink blockchains, having been launched for the first time in late 2024. More than 450 million consumers across 30 countries can now access it thanks to its official launch as a regulated product in the EU.
Partnerships and Regulatory Environment
Paxos is expanding its presence through partnerships with major players like Mastercard, Kraken, and Robinhood. In April, the company partnered with Stripe to allow merchants to accept cryptocurrency payments, while last month, Fiserv announced plans to launch its stablecoin FIUSD on Solana using Paxos’ infrastructure.
With the new regulations in place and a growing demand for stablecoins, Paxos is solidifying its standing in the market with Global Dollar, compliant with stringent EU requirements.
