The post Global Dollar Network Debuts With Backing From Robinhood, Galaxy Digital, Others appeared on BitcoinEthereumNews.com.

Some of the leading crypto firms have formally formed an alliance aiming to encourage digital asset users worldwide to adopt stablecoin. Robinhood, Kraken, Galaxy Digital, Anchorage Digital, Bullish, Nuvei, and Paxos joined forces to launch a new stablecoin known as the USDG, or the Global Dollar Network., helping the integration of stablecoin in everyday financial transactions. A New Stablecoin Network The partnership between Robinhood, Kraken, Galaxy Digital, Anchorage Digital, Bullish, Nuvei, and Paxos gave birth to the open network named the Global Dollar Network. According to their joint statement, the new network was created to accelerate stablecoin’s worldwide usage. These leaders in their respective industries, united by one goal, will pool their resources and utilize their expertise to push for a wider adoption of the coin, making it a more global digital currency. The consortium urged other firms, custodians, payment tools, crypto exchanges, and other platforms to become part of the newly formed stablecoin network so they can work together to innovate global money. USDG, a new US-dollar denominated stablecoin is finally here, and I couldn’t be more excited about @Anchorage Digital’s role. As an initial partner, we’re making sure institutions have everything they need to confidently engage with USDG. 🚀 https://t.co/QoWEuPxMtE — Nathan McCauley (@nathanmccauley) November 4, 2024 Anchorage Digital, one of the pioneering members of the network, is thrilled about what the future holds for the partnership. The company’s CEO, Nathan McCauley said that their firm supports the introduction of the Global Dollar Network, saying that the stablecoin bloc would greatly benefit the coin’s users. “Institutions gain an incredible set of opportunities with stablecoins: fast peer-to-peer and cross-border settlement, efficient trading capability, and the chance to earn rewards on select stablecoin deposits,” McCauley said. USDG Stablecoin With the collaboration, the new network will issue a new stablecoin called…

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Filed under: News - @ November 6, 2024 3:27 pm