Key Takeaways
- Gate joined Global Dollar Network as a first-tier partner, integrating USDG stablecoin support for its 34 million users.
- USDG is a fully backed stablecoin issued by Paxos, ensuring regulatory compliance and trust for users on multiple blockchains.
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Gate, a leading global crypto exchange, announced its official participation in Global Dollar Network (GDN), an open network designed to accelerate stablecoin adoption worldwide. Gate has integrated support for USDG, the US dollar-pegged stablecoin, making it accessible to its 34 million users. Gate’s entry into Global Dollar Network alliance represents more than just the adoption of a single stablecoin; it signals a broader strategic commitment to exploring new frontiers in PayFi.
USDG is now available to Gate’s global user base across Ethereum, Solana, and Ink blockchains. Fully backed 1:1 with U.S. dollars or equivalent liquid assets, USDG is issued by Paxos Digital Singapore, which is a Major Payments Institution supervised by the Monetary Authority of Singapore. It is also issued by Paxos Issuance Europe under the supervision of FIN FSA and in compliance with MiCA. Gate remains committed to offering robust regulatory compliance and financial transparency. By integrating USDG, Gate advances its mission to promote financial inclusivity by bridging centralized and decentralized infrastructure. This move also supports Gate’s broader strategy to enable seamless cross-border payments, building the infrastructure for a resilient, global PayFi economy.
“This partnership reflects Gate’s ongoing commitment to regulatory-compliant innovation and digital asset infrastructure,” said Dr. Han, the founder and CEO of Gate. “USDG will play a pivotal role in powering next-generation global payments, trading, and PayFi access. We’re excited to deepen our USDG integration across the Gate ecosystem in the coming months.”
Nick Robnett, Head of Crypto Business Development at Paxos, on behalf of Global Dollar Network, stated:
“We’re proud to welcome Gate to Global Dollar Network. Their participation strengthens our collective mission to accelerate the adoption of secure, trusted stablecoins, empowering users worldwide with access to a transparent, always-on financial ecosystem.”
Global Dollar Network is one of the fastest-growing stablecoin networks worldwide, built on a sustainable economic model. It rewards partners based on their contributions through a unique framework that distributes network revenue to members. Unlike traditional stablecoins, Global Dollar Network fosters collaboration and incentivizes widespread adoption.
Stablecoins are evolving rapidly, and it is crucial for ecosystems to keep pace with the growing demand for innovative options. USDG’s strong stability makes it one of the most trusted stablecoins worldwide. Gate is proud to stand alongside industry leaders at this pivotal moment, supporting the accelerated adoption of stablecoins worldwide.
About Gate
Gate, founded in 2013 by Dr. Han, is one of the world’s earliest cryptocurrency exchanges. The platform serves over 34 million users with 3,600+ digital assets and pioneered the industry’s first 100% proof-of-reserves. Beyond core trading services, Gate’s ecosystem includes Gate Wallet, Gate Ventures, and other innovative solutions.
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About Global Dollar Network
Global Dollar Network is the world’s fastest growing stablecoin network with unmatched economic upside. Powered by Global Dollar (USDG), a US dollar-backed stablecoin issued by Paxos Digital Singapore and Paxos Issuance Europe, Global Dollar Network offers a transparent and equitable economic model that rewards partners for their contributions. Global Dollar Network partners include industry leaders such as Anchorage Digital, Bullish, Kraken, OKX, Paxos, Robinhood, Worldpay and more.
Note: USDG is available on Solana, Ink and Ethereum.
Disclaimer: The content herein does not constitute any offer, solicitation, or recommendation. You should always seek independent professional advice before making any investment decisions. The products and/or services mentioned herein (if any) are only available to persons outside Singapore. Gate does not promote or provide products or services in Singapore or other Restricted Locations. Please note that Gate may restrict or prohibit the use of all or a portion of the Services from Restricted Locations. For more information, please read the User Agreement via https://www.gate.com/legal/user-agreement.
Earlier this month, the Global Dollar Network expanded into the European Union with the USDG stablecoin launch by Paxos Issuance Europe, backed by Robinhood, Kraken, and others.
Last month, crypto exchange OKX joined the Global Dollar Network and integrated the Paxos-issued USDG stablecoin, enabling 60 million customers to access and convert USDG 1:1 with USD at no cost.
Last month, Robinhood, Kraken, and other fintech leaders launched the Global Dollar Network, utilizing Paxos’s USDG stablecoin to address market issues like high transaction costs and to promote stablecoin adoption.
In April, Visa became the first traditional finance player to join the Global Dollar Network, which includes major crypto and fintech companies and uses Paxos’s USDG to advance real-world stablecoin applications.
As recently as November, Paxos collaborated with Singapore’s DBS Bank to launch the USDG stablecoin, designed to adhere to Singapore’s upcoming stablecoin regulations.
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