Global USD (USDG)According to a press release on Tuesday, it is Stablecoin issued by regulated fintech Paxos and is provided to consumers in the EU by backers of heavy hitters including Robinhood, Kraken and Mastercard.
USDG is regulated by markets in the European market (Micca)Finland financial regulator (FIN-FSA)and Singapore’s currency authority (but)Paxos said in a statement.
In Europe, demand for USD-backed stable stocks is growing, and in Europe, Circle’s USDC token is the largest mica adjustment option. Paxos said USDG will have a significant impact as another regulated option.
“USDG is a fully regulated global USD-StableCoin, MICA compliant and is now available in the EU, demonstrating our commitment to providing global digital assets overseen by insured regulators and also meeting the highest standards of consumer protection,” said Walter Hessert, head of strategy at Paxos.
Paxos said that under the meeting requirements of the EU Mica regulations, Paxos, regulated by Fin-FSA, must issue a portion of the USDG reserve holdings by European and European banking partners.
