Based in Singapore Paxos The Global Dollar (USDG) stablecoin issued by has been launched in line with the soon-to-be-enforced stablecoin regulations of the Monetary Authority of Singapore (MAS). Introduced with the support of leading companies in the cryptocurrency industry, USDG stablecoin will share the return from its reserve assets among participants who adopt the network.
New Generation Stablecoin Model
Global Dollar This stablecoin, called (USDG), was developed in collaboration with industry giants such as Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos and Robinhood. Paxos CEO Charles Cascarillastated that USDG was designed as a “community-driven token” and said, “Anyone can join the Global Dollar Network and earn rewards for activities on the network. We distribute a large portion of the economic share, 97 percent. “This is a very innovative approach in the stablecoin world.” he added.
In the stablecoin market USDT And USDC Although giants like USDG have a large share, it is noteworthy that USDG has a different functioning. While stablecoin issuers like Tether and Circle keep all revenue from reserves for themselves, USDG will distribute rewards to participating companies for activities such as liquidity and connection creation.
In this new model, each participant’s different contributions to growing the ecosystem will be rewarded. According to Cascarilla, this structure is a big step towards creating a thriving ecosystem.
Reward System for Participants
The USDG stablecoin will be available in the US through distributors such as Anchorage. Since Anchorage operates in all US states, USDG is expected to be widely accessible. USDG is the largest bank in Southeast Asia in terms of cash management and storage of reserves. DBS Bank There will be cooperation with. With this move, Paxos aims to create a stable and secure infrastructure.
Finally, it is worth emphasizing that Anchorage operates in all US states.
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.
