Global Dollar Expands to Solana Blockchain
Global Dollar, a stablecoin issued by Paxos Digital Singapore, is now available on the Solana network.This expansion was announced on February 25, marking a significant step for the U.S. dollar-pegged stablecoin.
Launched on November 1, 2024, Global Dollar (USDG) initially operated on Ethereum. Now, it’s expanding its reach to Solana. This move aims to boost stablecoin adoption for global payments and finance.
USDG is issued by Paxos Digital Singapore, a subsidiary regulated by the Monetary Authority of singapore. The company plans to partner with crypto exchanges,wallets,and blockchain platforms to distribute USDG widely.
Institutions can access USDG on Solana through Anchorage Digital and Kraken. Lily Liu, President of the Solana Foundation, believes this launch will unlock new opportunities for businesses and retail users.
Several partners,including alfred,Caliza,and Noah,will integrate USDG.These collaborations aim to drive adoption for various use cases like card payments and cross-border transfers.
Ezra Kebrab, CEO of Caliza, sees this as a step towards borderless finance. He notes that stablecoins like USDG can provide safe, regulated dollar-denominated products globally.
The stablecoin market is growing, with tether’s USDT and Circle’s USDC leading. Paxos offers other stablecoins like Pax Dollar (USDP) and Pax Gold (PAXG) to tap into this growth.
