Paxos, a leading platform in regulated blockchain infrastructure, has launched Global Dollar (USDG) — a dollar-backed stable coin that meets the standards of MAS (Monetary Authority of Singapore). USDG is issued by Paxos Digital Singapore and is aimed at institutional users, ensuring high standards of security and regulatory compliance.
USDG is already available on the Ethereum blockchain and will be expanded to other blockchains in the future. The USDG reserves are supported by highly liquid assets, such as dollar deposits and US government securities, guaranteeing a stable 1:1 ratio with the dollar.
The main banking partner for Paxos will be the largest bank in Southeast Asia, DBS Bank, which will manage USDG's reserves.