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The global stablecoin landscape is rapidly evolving, with Paxos launching its USDG token across the European Union while US lawmakers face pressure to refine domestic regulatory frameworks. As Congress advances the GENIUS and STABLE Acts, New York Attorney General Letitia James has called for tighter oversight of stablecoin issuers, highlighting concerns that current proposals may fall short in safeguarding the public and the broader financial system. Paxos Launches USDG Stablecoin in the European Union, Reinforcing Global Dollar Network Expansion Paxos has officially launched its USDG stablecoin in the European Union, marking a major milestone for the Global Dollar Network (GDN). The announcement was made on Tuesday, highlighting that the USDG stablecoin is now live on a broad range of EU-based platforms, including prominent cryptocurrency exchanges such as Kraken and Gate.io. The rollout of USDG aligns with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework, one of the most comprehensive digital asset regulations to date. Paxos stated that it has designed USDG to fully comply with MiCA’s reserve, transparency, and audit requirements. The issuance of USDG in Europe is conducted through Paxos Issuance Europe OY, a regulated entity based in Finland under the oversight of the Finnish Financial Supervisory Authority (FIN-FSA). In addition to regulatory compliance within the EU, Paxos also operates under the supervision of Singapore’s central bank, signaling a growing trend of multinational regulatory harmonization in the digital asset sector. The stablecoin has already secured partnerships with a host of crypto and fintech platforms, including Coinmetro, SwissBorg, Zodia Custody, Orbital, Hercle, CoinsPaid, Bitwyrem, Bitnet, and HiFi, alongside launch partners Kraken and Gate.io. Mark Greenberg, global head of consumer at Kraken, emphasized the importance of stablecoins as foundational components of modern financial infrastructure. “As stablecoins become core infrastructure for global finance, USDG stands out for its usability and growing…

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Filed under: News - @ July 2, 2025 12:28 pm