The Global Dollar Network refers to the broader ecosystem supporting the use and integration of Global Dollar (USDG), a US dollar-pegged stablecoin. It is not a separate protocol or blockchain but rather a framework for enabling regulated stablecoin transactions across public blockchains such as Ethereum and other approved Layer 1 and Layer 2 networks. The network facilitates around-the-clock stablecoin issuance, redemption, and use for payments, treasury, and settlements, supporting both enterprise and individual users.

Participants in the Global Dollar Network include wallets, fintechs, payment providers, and financial institutions that integrate USDG into their systems. These entities use the stablecoin infrastructure to power use cases such as cross-border transfers, remittances, card payments, and decentralised applications. USDG is issued and redeemed directly by Paxos Digital Singapore (PDS), with interoperability across blockchain protocols enabled by smart contracts.

Global Dollar (USDG) is a US dollar-pegged single-currency stablecoin (SCS) issued by Paxos Digital Singapore Pte. Ltd. (PDS). Each USDG is backed 1:1 by US dollars or cash equivalents and is redeemable on demand. The stablecoin is deployed as an ERC-20 token on Ethereum and as a standard token on other public blockchains approved by the Monetary Authority of Singapore (MAS).

USDG is governed by the forthcoming MAS stablecoin framework, which establishes requirements around value stability, capital requirements, redemption at par, and disclosures. The stablecoin is fully collateralised with reserves held in segregated safeguarding accounts, ensuring user protection even in the event of issuer insolvency.

USDG is used in a range of financial and digital asset applications, primarily where a regulated, fiat-referenced digital dollar is required. Its uses include:

• Payments: USDG enables 24/7 digital dollar transfers on public blockchains.
• Settlements: Enterprises can settle obligations in real-time without relying on traditional banking infrastructure.
• Treasury: Organisations can hold and deploy reserves in digital dollars for operational or strategic purposes.
• Cross-border remittances: USDG is integrated into fintech services enabling global transfers in stable US dollars.
• DeFi and programmable finance: USDG supports smart contract operations and can serve as a collateral or settlement asset in decentralised applications.

These functions are made possible through USDG’s programmability and blockchain-native architecture, with smart contracts automating token issuance, redemption, and transfers.