{"id":40775,"date":"2024-11-05T06:11:57","date_gmt":"2024-11-05T06:11:57","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/new-stablecoin-usdg-launches-with-support-from-crypto-industry-leaders\/"},"modified":"2024-11-05T06:11:57","modified_gmt":"2024-11-05T06:11:57","slug":"new-stablecoin-usdg-launches-with-support-from-crypto-industry-leaders","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/new-stablecoin-usdg-launches-with-support-from-crypto-industry-leaders\/","title":{"rendered":"New Stablecoin USDG Launches with Support from Crypto Industry Leaders"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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In a push to advance regulated stablecoin solutions, several prominent cryptocurrency companies have teamed up to support the launch of the Global Dollar (USDG), a stablecoin aimed at delivering unique yield-sharing benefits. Anchored in Singapore\u2019s regulatory framework, USDG is issued by Paxos and backed by companies like Anchorage Digital, Galaxy Digital, Kraken, Nuvei, Robinhood, and Bullish, among others. This collaborative network, known as the Global Dollar Network, is designed to return reserve asset yields to entities contributing to its expansion.<\/p>\n

The USDG Advantage: Yield Sharing with Network Partners<\/h3>\n

USDG stands out from established stablecoins by distributing nearly all of its reserve income to partner participants, as Paxos CEO Charles Cascarilla explained. \u201cAnybody can join the Global Dollar Network and accrue rewards for activity,\u201d<\/em> Cascarilla stated, emphasizing that 97% of the generated revenue will go to these network participants. This structure contrasts with stablecoins like Tether (USDT) and Circle\u2019s USDC, which retain all their reserve yields rather than sharing them.<\/p>\n

Income from USDG reserves\u2014predominantly held in U.S. Treasuries\u2014will be allocated based on each partner\u2019s role in enhancing network utility. The more a participant aids in expanding connectivity and liquidity, the greater their potential reward. Cascarilla remarked, \u201cDifferent participants can be rewarded in different ways\u2026 that\u2019s actually what makes a thriving ecosystem.\u201d This incentive model supports companies in the network rather than directly engaging individual end-users, building a robust infrastructure for stablecoin adoption.<\/p>\n

Compliance and Banking Partnerships<\/h3>\n

USDG aligns with Singapore\u2019s forthcoming stablecoin regulations, underscoring the Global Dollar Network\u2019s commitment to a compliant, regulation-ready stablecoin. DBS Bank, the largest bank in Southeast Asia, has been selected as the primary banking partner for cash management and custody of USDG\u2019s reserves, adding an additional layer of security and trust. For U.S. participants, Anchorage Digital facilitates access to USDG across all 50 states, broadening the reach of this stablecoin on a global scale.<\/p>\n

By prioritizing compliance and yield-sharing, USDG aims to carve a unique space in the competitive stablecoin market. As it gains traction, USDG\u2019s partners anticipate that this model will attract more participants who can benefit from the economic advantages built into the network, supporting broader adoption and enhancing the stablecoin\u2019s utility in international markets.<\/p>\n

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(Originally posted on : Crypto News – iGaming.org ) In a push to advance regulated stablecoin solutions, several prominent cryptocurrency companies have teamed up to support the launch of the Global Dollar (USDG), a stablecoin aimed at delivering unique yield-sharing benefits. Anchored in Singapore\u2019s regulatory framework, USDG is issued by Paxos and backed by companies […]<\/p>\n","protected":false},"author":35,"featured_media":40776,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/40775"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=40775"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/40775\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/40776"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=40775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=40775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=40775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}