What is the Global Dollar Network?

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.

What is Global Dollar (USDG)?

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.

What is USDG used for?

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.

USDG is issued by **Paxos Digital Singapore Pte. Ltd.**, a regulated entity licensed by the Monetary Authority of Singapore as a Major Payment Institution. PDS is part of the Paxos group, which includes regulated entities in the United States and the United Arab Emirates. USDG is issued in the EU by Paxos Issuance Europe Oy (PIE), an Electronic Money Institution regulated by the Finnish Financial Supervisory Authority (FIN-FSA). USDG is fully compliant with the EU’s Markets in Crypto Assets Regulation (MiCA). Paxos Trust Company is regulated by the New York State Department of Financial Services (NYDFS) and issues other US dollar-backed stablecoins including USDP and PYUSD (PayPal USD). Paxos International is also licensed by the Financial Services Regulatory Authority in the Abu Dhabi Global Market and issues Lift Dollar (USDL). Paxos has experience in stablecoin issuance since 2018, with over $160 billion in stablecoins minted across jurisdictions. For USDG, it partners with DBS Bank for reserve custody and cash management. The reserves are held in a mix of US dollars, short-term US government securities, reverse repurchase agreements, and money market funds, in line with MAS guidelines. Monthly reserve attestations are conducted by independent auditors.

Global Dollar (USDG) Markets

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	USDG-USDC USDGUSDC	bullish	AA	1.00USDC	0.02%	6,688,814.18USDG	13,456	1.00USDC	1.00USDC
2	USDG-USDC USDGUSDC	kraken	AA	1.00USDC	0.02%	4,504,171.48USDG	297	1.00USDC	1.00USDC
3	USDG-USDT USDG-USDT	okex	A	1.00USDT	0.01%	4,377,940.87USDG	1,104	1.00USDT	1.00USDT
4	USDG-USD usdgusd	bitstamp	AA	0.9999USD	0.00%	3,226,361.89USDG	364	0.9999USD	1.00USD
5	USDG-USDT USDGUSDT	kraken	AA	1.00USDT	0.05%	639,054.49USDG	31	1.00USDT	1.00USDT
6	USDG-USD USDGUSD	kraken	AA	1.00USD	0.00%	628,643.17USDG	686	1.00USD	1.00USD
7	USDG-BRL USDG-BRL	okex	A	5.40BRL	0.59%	202,637.64USDG	151	5.37BRL	5.56BRL
8	USDG-USDT USDG_USDT	gateio	A	1.00USDT	0.00%	119,885.80USDG	247	1.00USDT	1.00USDT
9	USDG-USDT USDG-USDT	kucoin	BB	1.00USDT	0.05%	108,677.77USDG	161	1.00USDT	1.00USDT
10	USDG-EUR USDG-EUR	okex	A	0.8980EUR	0.51%	35,121.09USDG	137	0.8934EUR	0.8982EUR
11	USDG-SGD USDG-SGD	okex	A	1.28SGD	0.19%	8,912.30USDG	4	1.28SGD	1.28SGD
12	USDG-USD usdgusd	gemini	A	0.9702USD	-0.99%	0USDG	0	0.9800USD	0.9800USD
13	USDG-USD USDG_USD	cryptodotcom	AA	1.00USD	0.00%	0USDG	0	1.00USD	1.00USD
14	USDG-USDT usdg_usdt	lbank	C	1.00USDT	0.03%	1,926,088.60USDG	82,934	1.00USDT	1.00USDT
15	USDG-USDT USDGUSDT	bitrue	D	1.00USDT	0.04%	364,268.29USDG	8,773	1.00USDT	1.00USDT
16	USDG-KRW USDG_KRW	bithumbkorea	-	1,329.00KRW	-0.08%	2,442.27USDG	22	1,330.00KRW	1,332.00KRW
17	USDG-KRW KRW-USDG	upbit	B	1,330.00KRW	-0.30%	1,251.21USDG	38	1,334.00KRW	1,335.00KRW
18	USDG-USDT USDT-USDG	upbit	B	1.05USDT	0.00%	0USDG	0	1.05USDT	1.05USDT
19	USDG-BRL usdgbrl	foxbit	-	5.46BRL	-2.86%	2.91USDG	2	5.62BRL	5.62BRL
20	USDG-USDT usdg_usdt	xtpub	-	0.9600USDT	0.00%	0USDG	0	0.9600USDT	0.9600USDT