Paxos has announced the launch of the Global Dollar (USDG) stablecoin in Europe, enabling access for over 450 million users.
USDG Goes Live in Europe
Global Dollar Network has introduced USDG to Europe, covering 30 countries and over 450 million users. European users can access USDG through exchange partners such as Kraken, Gate, SwissBorg, and others. The stablecoin is fully backed by the US dollar and can be redeemed with Paxos on a one-to-one basis. The launch underscores the increasing demand for US-dollar-backed assets.
Paxos Builds Reputation in Blockchain Space
The launch of USDG in Europe reflects Paxos' commitment to developing products foundational for a new open financial system. The firm already collaborates with leading enterprises to tokenize, custody, and trade assets. Paxos has received a license from the New York State Department of Financial Services and has issued several regulated stablecoins, including PayPal USD and Pax Dollar.
Rising Demand for Stablecoins
Stablecoins are digital assets pegged to fiat currencies such as the US dollar. They offer a hedge against cryptocurrency volatility and are increasingly popular for global payments. In 2024, stablecoin volumes reached record highs, with a total market cap of $263 billion and trading volume at $52 billion. Major players in the market remain Tether (USDT) and Circle (USDC), while Ripple USD is also gaining traction.
The launch of Paxos' USDG in Europe highlights the growing interest in stablecoins and the adaptation of the sector to regulatory demands, providing access to digital assets for millions.
