Close Menu
Cryprovideos
    What's Hot

    XRP Holder Ratio Drops in H1 2025—but Still Outpaces Solana

    June 25, 2025

    Avalanche’s Rocky Trip Would possibly Not Be Over Simply But ‣ BlockNews

    June 25, 2025

    Bitcoin Dominates Portfolios as Institutional Adoption Surges

    June 25, 2025
    Facebook X (Twitter) Instagram
    Cryprovideos
    • Home
    • Crypto News
    • Bitcoin
    • Altcoins
    • Markets
    Cryprovideos
    Home»Markets»Paxos Launches USDG Stablecoin with Regulatory Compliance
    Paxos Launches USDG Stablecoin with Regulatory Compliance
    Markets

    Paxos Launches USDG Stablecoin with Regulatory Compliance

    By blockchain.newsNovember 1, 2024No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Darius Baruo
    Nov 01, 2024 10:22

    Paxos introduces USDG, a US dollar-backed stablecoin, compliant with Singapore’s MAS framework. Partnering with DBS Bank for secure reserve management, USDG aims to enhance global stablecoin adoption.

    Paxos Launches USDG Stablecoin with Regulatory Compliance

    Paxos, a leading entity in blockchain and tokenization infrastructure, has officially launched the Global Dollar (USDG), a new US dollar-backed stablecoin. This development, announced on November 1, 2024, is regulated under the Monetary Authority of Singapore (MAS), marking a strategic step towards global stablecoin adoption, according to Paxos.

    USDG: A New Era of Stablecoins

    USDG is designed to meet the needs of regulated institutions by maintaining high operational standards. It is available on the Ethereum blockchain with plans to expand to other blockchains shortly. Paxos ensures that USDG is backed by high-quality liquid assets, such as US dollar deposits and short-duration US Government securities, maintaining a 1:1 parity with the US dollar. This allows users to redeem their tokens for fiat currency at any time.

    Strategic Partnerships and Compliance

    The stablecoin’s introduction is complemented by a partnership with DBS Bank, Southeast Asia’s largest bank, recognized as the Safest Bank in Asia for 16 consecutive years. DBS will manage the cash reserves backing USDG, further solidifying its security and trustworthiness. This collaboration is expected to drive innovation and adoption of stablecoins on a global scale.

    Ronak Daya, Head of Product at Paxos, emphasized the increasing enterprise interest in stablecoins and the market’s need for a solution that combines regulatory compliance with economic incentives. He stated that USDG provides a trusted solution with a top-tier banking partner, facilitating stablecoin innovation at a global level.

    Expanding Paxos’ Digital Asset Portfolio

    USDG is the sixth digital asset issued by Paxos, following successful launches of other digital currencies like PayPal USD (PYUSD), Pax Dollar (USDP), and Pax Gold (PAXG). These assets are issued by Paxos Trust Company, LLC, a New York Department of Financial Services-regulated entity, and its UAE-based affiliate, Paxos International, regulated by Abu Dhabi Global Market’s FSRA.

    Paxos continues to strengthen its position as a trusted partner for enterprises globally, facilitating the tokenization, custody, trading, and settlement of digital assets. The company is prudentially regulated in the US, Singapore, and Abu Dhabi, further underscoring its commitment to compliance and security in the digital asset space.

    Broader Implications for the Financial System

    Paxos’ introduction of USDG aligns with its mission to replatform the financial system, enabling instantaneous asset movement worldwide. By partnering with major global enterprises like PayPal, Mastercard, and Nubank, Paxos is at the forefront of creating a more efficient and accessible financial infrastructure.

    Image source: Shutterstock




    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Avalanche’s Rocky Trip Would possibly Not Be Over Simply But ‣ BlockNews

    June 25, 2025

    Conflux (CFX) Community Broadcasts Testnet Hardfork Improve for v3.0.0

    June 25, 2025

    Everybody laughed at these 10 devices. Now, they’re in each dwelling

    June 25, 2025

    Prime 8 Greatest Altcoins to Purchase for Subsequent Bull Run That Consultants Are Quietly Accumulating

    June 25, 2025
    Latest Posts

    Bitcoin Dominates Portfolios as Institutional Adoption Surges

    June 25, 2025

    Bitcoin Worth Crash Beneath $100,000: Pundit Reveals Subsequent Space Of Motion To Begin Shopping for

    June 25, 2025

    Bitcoin Provide Shock Imminent: Max Keiser

    June 25, 2025

    Crypto Analyst Requires New Bitcoin All-Time Excessive After Transient Dip Beneath $100,000, Predicts Rallies for Ethereum and WIF – The Each day Hodl

    June 25, 2025

    Arizona Home Clears Bitcoin Reserve Invoice Funded by Seized Crypto – Decrypt

    June 25, 2025

    Trump Media's Eyes SEC Approval For Twin Bitcoin and Ethereum ETF

    June 25, 2025

    Greatest Crypto to Purchase for Q3? BTC Bull Token Enters Closing Week of Presale – CryptoDnes EN

    June 25, 2025

    21 Years Later: Michael Saylor Sees Bitcoin At $21M—Particulars

    June 25, 2025

    CryptoVideos.net is your premier destination for all things cryptocurrency. Our platform provides the latest updates in crypto news, expert price analysis, and valuable insights from top crypto influencers to keep you informed and ahead in the fast-paced world of digital assets. Whether you’re an experienced trader, investor, or just starting in the crypto space, our comprehensive collection of videos and articles covers trending topics, market forecasts, blockchain technology, and more. We aim to simplify complex market movements and provide a trustworthy, user-friendly resource for anyone looking to deepen their understanding of the crypto industry. Stay tuned to CryptoVideos.net to make informed decisions and keep up with emerging trends in the world of cryptocurrency.

    Top Insights

    Coinbase Sponsors One other NBA Staff With LA Clippers Deal – Decrypt

    November 23, 2024

    Coinbase says FTX repayments may turn into a $5B market injection

    May 31, 2025

    Bitcoin Predicted to Hit $300K as Crypto Market Triples, In response to HashKey

    January 16, 2025

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    • Home
    • Privacy Policy
    • Contact us
    © 2025 CryptoVideos. Designed by MAXBIT.

    Type above and press Enter to search. Press Esc to cancel.