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Key Takeaways:
- USDG stablecoin is now live in the EU under MiCA compliance, with regulatory oversight from Finland and Singapore.
- Major exchanges like Kraken and Gate support the launch, signaling strong industry adoption.
- Paxos’ Global Dollar Network continues expanding with backing from Mastercard, Robinhood, and other fintech leaders.
Paxos has officially launched its USD-backed stablecoin, the Global Dollar (USDG), across the European Union. Issued through its Finland-based entity Paxos Issuance Europe OY, USDG is the first eurozone stablecoin to claim full compliance with the EU’s Markets in Crypto-Assets Regulation (MiCA). The launch also places USDG under oversight from Finland’s Financial Supervisory Authority and Singapore’s Monetary Authority, ensuring global regulatory alignment.
Major Exchanges Back USDG Rollout
According to Paxos, Kraken, Gate.io, and a host of other crypto platforms have already listed USDG, including Coinmetro, SwissBorg, Zodia Custody, and Bitnet. This broad exchange support gives the stablecoin a significant head start in terms of liquidity and adoption across the EU. Kraken’s global head of consumer, Mark Greenberg, emphasized USDG’s role as a new pillar in crypto finance, saying it “stands out for its usability and growing ecosystem.”
USDG’s reserves are partly held in European banks, and Paxos guarantees 1:1 redemption, in compliance with MiCA’s rigorous reserve and transparency rules.
Global Dollar Network Expands in Europe
The USDG launch is part of Paxos’ broader Global Dollar Network (GDN) initiative, which aims to provide stablecoin infrastructure for global finance. The GDN is backed by fintech and institutional giants including Robinhood, Worldpay, Anchorage Digital, and Mastercard, which recently joined the initiative and pledged to support USDG. The network, originally launched in late 2024, is designed to facilitate cross-border stablecoin payments and drive mainstream adoption.
Also Read: VeChain Leads Enterprise Blockchain Push With WHO Partnership and MiCAR Approval
Stablecoin Market Sees Rapid Growth
USDG’s arrival comes as the global stablecoin market continues to boom. According to DefiLlama, total stablecoin market capitalization reached $253.9 billion in late June 2025. A recent Coinbase report highlighted a tripling of stablecoin adoption year-over-year, driven by businesses seeking faster, more reliable financial tools.
Yield-bearing stablecoins are also on the rise, with over $11 billion in circulation as of May—up from $1.5 billion at the start of 2024. This trend shows growing demand not just for stable payments, but for digital assets with yield potential.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
