Global Dollar

Global Dollar (USDG) is a US dollar stablecoin issued by Paxos Digital Singapore, a regulated payments institution supervised by the Monetary Authority of Singapore. Each token is redeemable one-to-one for US dollars from Paxos, and the coin is designed to combine the stability of the dollar with the speed and programmability of blockchain payments.

USDG launched in late 2024 as the centerpiece of the Global Dollar Network, an initiative by Paxos and a group of partner companies to encourage broader stablecoin adoption. In Europe, USDG is issued by Paxos Issuance Europe, an electronic money institution regulated in Finland, and the token is compliant with the EU's Markets in Crypto-Assets (MiCA) regulation — placing it among the more heavily regulated dollar stablecoins available.

How USDG works

USDG follows the standard fiat-backed model: tokens are minted when dollars are deposited with the issuer and burned when holders redeem. Reserves are held in dollar-denominated assets under strict regulatory requirements, including monthly independent attestations and annual audits. Reserve assets are held in segregated accounts on trust for token holders, a structure intended to protect holders in the event of issuer bankruptcy.

The token has no fixed maximum supply; circulation, currently in the billions, expands and contracts with issuance and redemptions. USDG is deployed on several networks, including Ethereum and Solana, and its role in the ecosystem mirrors that of other regulated stablecoins: a dollar-denominated asset for trading, payments, and settlement, with a particular emphasis on regulatory compliance across multiple jurisdictions.