Robinhood and octopus-supported Global Dollar (USDG) starts in Europe
Global Dollar (USDG)A stable coin issued by the regulated FinTech Paxos and supported by a consortium of important actors such as Robinhood, Kraken and Mastercard, consumers are made available throughout the European Union, according to a press release from Tuesday.
USDG is from Europe's markets in crypto-assets (MiCA)the Finnish financial supervisory authority (FIN-FSA) and the Monetary Authority of Singapore (BUT) Regulated, Paxos said in a statement.
The demand for US dollar-based stable coins is growing in Europe, with Circle's USDC token represents the largest mica-regulated option. USDG will have a significant influence as an alternative regulated option, explained Paxos.
“USDG is a fully regulated global USD stable that is mica-compliant and is now available in the EU-proof of our commitment to offer global digital assets that are monitored by supervisory authorities and at the same time correspond to the highest standards of consumer protection,” said Walter Hessert, Head of Strategy at Paxos.
The fulfillment of the requirements of the EU MICA regulation requires that Paxos Issuance Europe, which is regulated by the FIN-FSA, holds part of the USDG reserve assets for European bank partners, said Paxos.
