Gold Backed Cryptocurrency & Stablecoin

If you are new to crypto, use the Crypto.com University and our Help Center to learn how to start buying Bitcoin, Ethereum, and other cryptocurrencies. The USDG token is deployed on the Ethereum blockchain as an ERC-20 token. Expansion to new permissionless layer 1 and layer 2 blockchains will occur as they are approved by MAS. USDG can be used as an interoperable building block for open-source smart contracts, enabling developers to create new use-cases, products and services.

1. Paxos CEO Charles Cascarilla claimed stablecoins are transforming financial systems and changing how people interact with US dollars and payments.
2. Binance was initially based in China, then moved to Japan shortly before the Chinese government restricted cryptocurrency companies.
3. If you are new to crypto, use the Crypto.com University and our Help Center to learn how to start buying Bitcoin, Ethereum, and other cryptocurrencies.
4. Paxos is replatforming the financial system to enable assets to instantaneously move anywhere in the world, at any time, in a trustworthy way.

DBS Bank, which has been ranked as Asia’s safest bank for 16 consecutive years by Global Finance magazine, will handle cash management and custody services for USDG’s reserves. CEO & Co-FounderCharles Cascarilla is the CEO and co-founder of Paxos, a regulated blockchain infrastructure platform that enables the movement of all assets in a trustworthy way. With more than 20 years of experience in financial services, Charles has a unique perspective on integrating blockchain technology with traditional systems. He co-founded institutional asset management complex Cedar Hill Capital Partners in 2005 and its venture capital subsidiary, Liberty City Ventures, in 2012. Paxos is the leading regulated blockchain infrastructure and tokenization platform. Its products are the foundation for a new, open financial system that can operate faster and more efficiently.

1. By holding a stablecoin like USDG, they can avoid the price fluctuations of other cryptocurrencies and maintain a secure digital asset within their portfolios.
2. Kraken’s Co-CEO Arjun Sethi characterized the regulated stablecoin market as lacking competition and suggested USDG’s economic model could attract mainstream participants.
3. This is especially beneficial for enterprises seeking to optimize cash flow and reduce transaction fees in their global operations.
4. USDG’s issuance will adhere to strict regulatory standards, including requirements for value stability, capital adequacy, redemption and par and comprehensive disclosure.
5. This surge demonstrates the increasing demand for stable digital assets in both crypto and traditional finance.

Track USDG price in real time, including market cap, volume, chart and all important USDG coin stats for today

CryptoSlate has no affiliation or relationship with the coins, projects or people mentioned on this page. These are usdg crypto the project’s quantitative metrics of its official GitHub Public Repositories that can be used to trace regular or artificial development activity, growth & popularity of the project. Unlike traditional remittance services that may take days, USDG transactions are completed within minutes, with fewer fees and greater convenience for both the sender and the receiver. Gate.io launched USDG HODL & EARN projects, generating high returns for users by allowing them to invest USDG in Defi liquidity mining projects that have been extensively verified and audited by smart contracts. USDG is issued on Ethereum and other public permissionless blockchains approved by MAS.

Is USDG regulated?

USDG, with its value anchored with USD, is a blockchain stablecoin managed by Gate.io. It is generated by the over-collateralization of multiple digital currencies. USDG, as part of Gate.io ecosystem, is a cross-chain asset stored on various blockchains such as GateChain and Ethereum. Most stablecoin issuers keep a large portion (or all) revenue generated from reserve assets. On 28 February 2024, two Binance executives, Nadeem Anjarwalla and Tigran Gambaryan, were detained by Nigeria’s government on allegations of illegal operations and forex manipulation.125 Anjarwalla escaped custody126 in March. The Nigerian government subsequently filed a criminal charge against Binance for tax evasion.

The absolute theoretical maximum number of coins/tokens that is coded and will ever exist in the cryptocurrency’s lifetime. Despite their strong market position, these stablecoins have faced challenges related to transparency, regulatory scrutiny, and limited incentives for institutional partners. This opens opportunities for new, transparent, and compliant stablecoins like Global Dollar (USDG) to carve out a space in the market. Paxos is a global leader in stablecoin issuance, having minted over $160B in stablecoins since 2018 with oversight from top regulatory regimes around the world.

Services

There was no trade for the last 24 hours, meaning no one sold or bought this coin. USDG reached its peak price on April 30, 2024 and has recorded an all-time high price of $1.97. For the previous 52 weeks, the lowest and highest value forUSDGwas $1and $1. Global Dollar Network seeks widespread adoption by offering superior customer protection and unlocking new industry applications. FDMC is the Market Cap if the Maximum Supply of a coin/token was entirely in circulation. To check Global Dollar’s price live in the fiat currency of your choice, you can use Crypto.com’s converter feature in the top-right corner of this page.

The current CoinMarketCap ranking is #837, with a live market cap of $29,241,006 USD. The most active and popular exchanges for buying or selling USDG are Binance, Kucoin & Kraken. The most secure hardware wallets for keeping your cryptocurrency safe are Ledger and Trezor. The launch of Global Dollar (USDG) comes at a time when demand for stable digital currencies is surging. With over $160 billion in stablecoin issuance to date, Paxos is well-positioned to expand the use of USDG across both traditional and digital financial landscapes.

The USDG platform aims to provide easy payment solutions to allow users to transact with online shops and cryptocurrency exchanges. It is a quantitative metric calculating how many individual units of specific cryptocurrency coins/tokens were traded (bought & sold) within the last 24 hours. It’s a direct cryptocurrency’s supply & demand indicator, and is purely related to its market price.

Ltd. (PDS), the entity issuing USDG, received full approval from the Monetary Authority of Singapore (MAS) to offer digital payment token services as a Major Payments Institution (MPI). The approval enables PDS to issue USDG, a stablecoin compliant with MAS’ upcoming stablecoin framework. With USDG, Paxos continues its mission to create secure, regulated digital assets that can bridge the gap between traditional finance and blockchain technology. Traders and investors can use USDG as a stable asset in times of high market volatility. By holding a stablecoin like USDG, they can avoid the price fluctuations of other cryptocurrencies and maintain a secure digital asset within their portfolios. USDG is designed to support a wide array of financial applications.

The Global Dollar Network is an open initiative to promote stablecoin adoption globally, anchored by the Global Dollar (USDG), a fully-backed, US dollar-pegged stablecoin issued by Paxos and compliant with regulatory standards. Learn about USDG’s features, regulatory framework, and the benefits it brings to global stablecoin adoption. USDG’s issuance will adhere to strict regulatory standards, including requirements for value stability, capital adequacy, redemption and par and comprehensive disclosure.

Ltd. (PDS), the issuer of USDG, has secured full approval from the Monetary Authority of Singapore (MAS) as a Major Payments Institution (MPI) to offer digital payment token services. This approval aligns USDG with MAS’ forthcoming stablecoin framework, positioning it at the forefront of regulatory compliance. MAS, a globally recognized prudential regulator, is known for its robust oversight of stablecoins and commitment to stringent consumer protection standards. According to the press release issued by Paxos, the network’s stablecoin, called Global Dollar (USDG), will be issued in Singapore by Paxos. USDG is designed as a single-currency stablecoin pegged to the US dollar, with Paxos offering one-to-one redemption for US dollars. The project claims it will comply with the upcoming stablecoin regulatory framework from Singapore’s Monetary Authority.

In summary, USDG’s emphasis on regulatory compliance, transparency, economic incentives for partners, and focus on innovation positions it as a strong contender in the stablecoin landscape. Its ability to bridge traditional finance and digital assets could make it a valuable player in the stablecoin market, supporting broader adoption while fostering a more inclusive global financial system. The stablecoin market has experienced exponential growth, with the total market cap expanding 50x over the past five years. This surge demonstrates the increasing demand for stable digital assets in both crypto and traditional finance.

Paxos, a leader in blockchain infrastructure and tokenization, has been at the forefront of stablecoin innovation since 2018. Paxos was the first company to receive a limited-purpose trust charter from the New York Department of Financial Services (NYDFS), allowing it to operate under stringent regulatory oversight. With MAS’s support, USDG stands as a safe and reliable choice for enterprises that prioritize security and compliance.

These are the project’s quantitative metrics of its Organizational GitHub Public account that can be used to trace regular or artificial development activity & growth within the project. They’re used to trace website activity & growth within the project. DR (Domain Rating) metric is a sign of the project’s website reputability that is ranked from 0 to 100 (the higher the rank, the better reputability). Organic Traffic – is a metric of how many monthly users visit the project’s website via search engines. All these metrics are used for determining active or passive projects despite the artificial hype.