Global Dollar Expands to the EU with MiCA on Kraken and Gate
The post Global Dollar Expands to the EU with MiCA on Kraken and Gate appeared on BitcoinEthereumNews.com.
The Global Dollar (USDG) stablecoin has launched in the European Union, with issuer Paxos claiming compliance with the region’s Markets in Crypto-Assets Regulation (MiCA), as well as oversight from the Finnish Financial Supervisory Authority and Singapore’s central bank. According to a Tuesday announcement, the Paxos-issued USDG is now available in the EU through partners including major crypto exchanges Kraken and Gate. Other platforms that offer the stablecoin include Coinmetro, SwissBorg, Zodia Custody, Orbital, Hercle, CoinsPaid, Bitwyrem, Bitnet and HiFi. Paxos issues USDG in Europe through Paxos Issuance Europe OY, a Finland-based entity overseen by the country’s Financial Supervisory Authority. The stablecoin is structured to align with MiCA regulations, with a portion of its cash reserves held in European banks. Paxos said it guarantees one-to-one redemption and adheres to MiCA’s stringent reserve and audit requirements. Mark Greenberg, global head of consumer at Kraken, said that “as stablecoins become core infrastructure for global finance, USDG stands out for its usability and growing ecosystem.” Related: FATF warning on stablecoin crimes is not anti-crypto, intel firms say Global Dollar’s infrastructure The expansion into Europe comes alongside the broader Global Dollar Network (GDN), a stablecoin infrastructure initiative supported by Paxos, Kraken, Robinhood, Anchorage Digital, Worldpay and more than 20 additional financial and fintech companies. Mastercard recently joined the GDN initiative and announced it would support USDG, signaling interest from traditional finance. This expansion follows the late 2024 launch of the Global Dollar Network in partnership with Robinhood, Galaxy Digital, Kraken and Paxos. Magazine: Circle applies for US trust bank charter to manage its USDC reserve Walter Hessert, head of strategy at Paxos, said, “Demand for stablecoins continues its rapid ascent.” According to recent data from the real-world asset (RWA) tokenization tracker RWA.xyz, stablecoins reached a $239 billion market capitalization in late June, with that figure…
Filed under: News - @ July 2, 2025 3:22 am