Paxos, a leader in blockchain and tokenization infrastructure, has introduced the Global Dollar (USDG), a new US dollar-backed stablecoin aimed at fostering global stablecoin adoption. Issued by Paxos Digital Singapore Pte. Ltd., USDG is regulated by the Monetary Authority of Singapore (MAS) and is compliant with Singapore’s upcoming stablecoin framework.
USDG is designed to meet the standards of regulated institutions, promising 1:1 parity with the US dollar and backed by high-quality liquid assets, including dollar deposits and short-duration U.S. government securities. The token is initially available on Ethereum, with plans to expand to other blockchains soon.
The stability of USDG is enhanced by a strategic partnership with Southeast Asia’s DBS Bank, which will serve as the primary banking partner for cash management and custody of USDG reserves. DBS will hold the US dollar reserves, ensuring that USDG holders can redeem tokens for fiat currency at any time.
Ronak Daya, Head of Product at Paxos, highlighted the firm’s focus on enterprise adoption. “USDG offers a trusted solution with a top-tier banking partner in DBS that will be the catalyst to drive stablecoin innovation and enterprise adoption at a global scale,” he said.
USDG is the latest addition to Paxos’s growing suite of regulated digital assets, which includes PayPal USD (PYUSD), Pax Dollar (USDP), and Pax Gold (PAXG), all issued under the oversight of the New York Department of Financial Services. Additionally, the Abu Dhabi-based Paxos affiliate, Paxos International, issues the yield-bearing Lift Dollar (USDL) stablecoin. These assets have consistently provided customers with reliable, 1:1 asset parity under stringent regulatory frameworks.
The introduction of USDG reflects Paxos’s continued commitment to providing infrastructure for some of the world’s most significant financial institutions, enhancing global stablecoin accessibility with the support of DBS, Asia’s most trusted bank. Interested businesses can explore more at Global Dollar’s official website and access USDG’s smart contract on Etherscan and GitHub.
