Leaders in fintech and digital assets announced Monday the launch of the Global Dollar Network, which they described as “an open network designed to accelerate stablecoin usage worldwide.” Key players, including Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos, and Robinhood, are leading this initiative to broaden stablecoin adoption by pooling expertise and resources across sectors.

The network invites other industry leaders, such as payment fintechs, banks, custodians, and exchanges, to join and drive innovation in cross-border money movement. According to the announcement:

The initial partners of Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos and Robinhood are uniting resources and expertise to increase stablecoin adoption and expand real world use cases.

“Starting today, additional leaders across various sectors, including custodians, exchanges, payment fintechs, merchants, protocols, card networks, banks and investment platforms can join the Global Dollar Network to support innovation in global money movement,” the announcement adds.

Central to this network is USDG, a new stablecoin issued by Paxos out of Singapore that meets the Monetary Authority of Singapore’s upcoming compliance standards. Paxos describes USDG as “a new, safe and trusted stablecoin” intended to provide a compliant, regulated solution for enterprise transactions.

The announcement details:

Users of Anchorage Digital, Galaxy Digital, Kraken and Paxos can get USDG on these venues starting today. USDG will soon be available across all named distribution partners.

DBS Bank, Southeast Asia’s largest financial institution, will act as the primary banking partner, responsible for the custody and management of USDG reserves, adding an extra layer of trust and liquidity. Recognized as the “Safest Bank in Asia” for 16 years, DBS Bank is positioned to enhance USDG’s credibility. Anchorage Digital CEO Nathan McCauley noted the Global Dollar Network’s potential to enable “fast peer-to-peer and cross-border settlement.” The network’s founders see USDG reshaping digital finance and enterprise transactions, fostering secure, compliant innovation in global payments.

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