OKX has announced a partnership with the Global Dollar Network to promote Paxos’ USDG stablecoin across its platform. This collaboration aims to accelerate adoption of the regulated US dollar-backed digital asset among OKX’s 60 million users worldwide.
The USDG stablecoin is fully regulated by Singapore’s Monetary Authority and backed by dollar reserves held at DBS Bank. It distinguishes itself through strong regulatory compliance, including adherence to frameworks like Europe’s Markets in Crypto-Assets Regulation (MiCA).
The initiative comes as stablecoins facilitate more than $250 billion in market activity, with growing institutional adoption across retail payments, settlement systems, and emerging market transactions. The sector’s expansion has been further encouraged by regulatory developments like the US GENIUS Act, which has prompted major corporations such as Apple and Elon Musk’s X platform to explore stablecoin applications.
By integrating USDG, OKX targets users who prioritize robust regulatory compliance and seamless technological integration, strengthening its position in the competitive stablecoin marketplace.