In order for cryptocurrencies to be accepted on a global scale, the use of stablecoins must be expanded. An important step has been taken in this field. The new move, in which many giants will act together, may create a lot of noise.
What is USDG?
Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos And robinhood partnered to introduce the new stablecoin, Global Dollar Network. The step taken to adopt stablecoins worldwide has started a new process in which many giants combined their power.
Paxos will issue the token in compliance with regulations, and depository institutions, exchanges, payment technology companies and other giants in the financial sector will also be able to participate in the network. Kraken Co-CEO Arjun Sethi said;
“The lack of competition in the regulated stablecoin market has prevented the industry from reaching its full potential. USDG reverses this dynamic with a fairer model that will bring mainstream participants into the ecosystem and accelerate new stablecoin use cases.”
Singapore banking giant DBS Bank stablecoin It will be the organization that stores its reserves. USDG primarily Ethereum 
$2,451 Even though it is available in the network, it will be expanded quickly to as many networks as possible.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
