Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»Paxos Launches USDG Stablecoin with Regulatory Compliance
ADOPTION NEWS

Paxos Launches USDG Stablecoin with Regulatory Compliance

By Crypto FlexsNovember 3, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Paxos Launches USDG Stablecoin with Regulatory Compliance
Share
Facebook Twitter LinkedIn Pinterest Email

Darius Varu
November 1, 2024 10:22

Paxos launches USDG, a US dollar-backed stablecoin compliant with Singapore’s MAS framework. USDG aims to strengthen global stablecoin adoption by collaborating with DBS Bank for secure reserve management.





Paxos, a leader in blockchain and tokenization infrastructure, has officially launched Global Dollar (USDG), a new US dollar-backed stablecoin. According to Paxos, this development, announced on November 1, 2024, will be regulated by the Monetary Authority of Singapore (MAS) and marks a strategic step towards global stablecoin adoption.

USDG: A New Era of Stablecoins

USDG is designed to meet the needs of regulators by maintaining high operating standards. It is available on the Ethereum blockchain, with plans to expand to other blockchains soon. Paxos ensures that USDG is backed by high-quality liquid assets such as US dollar deposits and short-term US government securities, maintaining 1:1 parity with the US dollar. This allows users to exchange their tokens for fiat currency at any time.

Strategic Partnerships and Compliance

The introduction of stablecoins is complemented by a partnership with DBS Bank, the largest bank in Southeast Asia, which has been recognized as the safest bank in Asia for 16 consecutive years. DBS will manage the cash reserves backing USDG, further enhancing security and reliability. This collaboration is expected to foster innovation and adoption of stablecoins globally.

Ronak Daya, head of product at Paxos, said corporate interest in stablecoins is growing and highlighted the market need for solutions that combine regulatory compliance and economic incentives. He said USDG fosters stablecoin innovation at a global level by providing trusted solutions with top-tier banking partners.

Expanding Paxos’ digital asset portfolio

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

Paxos continues to strengthen its position as a trusted partner for businesses around the world, facilitating the tokenization, storage, trading, and settlement of digital assets. The company is carefully regulated in the United States, Singapore, and Abu Dhabi, further emphasizing its commitment to compliance and security in the digital asset space.

Wider implications for the financial system

Paxos’ introduction of USDG is aligned with its mission to replatform the financial system to enable instantaneous asset movement globally. Paxos is at the forefront of creating a more efficient and accessible financial infrastructure through partnerships with leading global players such as PayPal, Mastercard, and Nubank.

Image source: Shutterstock


Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

SOL Leverage Longs Jump Ship, is it $ 200 next?

September 24, 2025

Bitcoin Treasury Firm Strive adds an industry veterans and starts a new $ 950 million capital initiative.

September 16, 2025

The best Solana depin project to form the future -Part 2

September 8, 2025
Add A Comment

Comments are closed.

Recent Posts

LYS Labs Moves Beyond Data And Aims To Become The Operating System For Automated Global Finance

September 26, 2025

Dexari Unveils $1M Cash Prize Trading Competition

September 26, 2025

How to solve the XPL perp defect

September 26, 2025

Detect the full execution bug with the induction pursing of Wake

September 25, 2025

KuCoin Appeals FINTRAC Decision, Reaffirms Commitment To Compliance

September 25, 2025

Phemex Revamps Blog To Deliver Deeper Insights And Enhanced Reader Experience

September 25, 2025

T-REX Launches Intelligence Layer To Fix Web3’s Value Distribution Problem

September 25, 2025

Are you doing a fair deal?

September 25, 2025

The method of transforming ASTER WHALES into panic is as follows.

September 25, 2025

Hyperliquid launches USDH Stablecoin issued by Native Markets

September 25, 2025

Hyperliquid’s USDH Stablecoin is broadcast live at an early transaction volume of $ 2M or more.

September 24, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

LYS Labs Moves Beyond Data And Aims To Become The Operating System For Automated Global Finance

September 26, 2025

Dexari Unveils $1M Cash Prize Trading Competition

September 26, 2025

How to solve the XPL perp defect

September 26, 2025
Most Popular

Gemini Pro vs. GPT-4: A Comprehensive Comparison of AI Powerhouses

January 3, 2024

Online Betting: The Final Overview

March 8, 2024

Bitcoin Bear Rishi reached $ 97,000

June 2, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

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