OKX joins Paxos’ USDG network as stablecoin push intensifies
2025-07-14 17:36:28
Main Idea
OKX has joined Paxos' Global Dollar Network to promote the USDG stablecoin, aiming to expand its adoption among its 60 million users and within regulated frameworks.
Key Points
1. OKX joined the Global Dollar Network to support Paxos' USDG stablecoin, providing access to its 60 million users for trading and transfers.
2. USDG is a regulated stablecoin backed by US dollar deposits and short-term government securities, launched in November 2024 with reserves held by Singapore-based DBS Bank.
3. USDG has a circulating supply of $356 million, significantly smaller than market leaders like Tether and USDC, but aims to grow through regulatory compliance.
4. The Global Dollar Network includes partners such as Robinhood, Kraken, Anchorage Digital, Beam, DBS, and Standard Chartered.
5. USDG is regulated by the Monetary Authority of Singapore, emphasizing its focus on operating within established regulatory frameworks.
Description
Launched in November 2024, the USDG stablecoin has a total circulating supply of around $356 million.
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