Paxos Launches Stablecoin USDG Across Europe, Intensifying Competition with Circle

Paxos, a US-based cryptocurrency-related company, announced on the first of the month that it has issued the US dollar-denominated stablecoin 'Global Dollar (USDG)' for users throughout Europe (EU). With this launch, USDG is now accessible in 30 countries and complies with the EU's cryptocurrency regulations, known as MiCA. USDG is supported by the Global Dollar Network (GDN), an open and decentralized network involving participants such as Anchorage Digital, Galaxy Digital, Kraken, Robinhood, and Paxos itself.