Global dollar (USDG)A stableecoin issued by regulated Fintech -Paxos and supported by a consortium of heavy mothers that include Robinhood, Kraken and MasterCard are made available to consumers throughout the European Union, according to a press release on Tuesday.
USDG is regulated by Europe’s markets in crypto assets (Glitter)The Finnish Economic Supervisory Authority (FIN-FSA)and the monetary authority in Singapore (MAS)Said Paxos in a statement.
The demand for US dollar-backed stableecoins is growing in Europe, where Circle’s USDC token is the biggest glitter-controlled choice. USDG will have a significant influence as an alternative regulated option, Paxos said.
“USDG is a fully regulated Global USD StableCoin that complies with MICA and is now available in the EU, a testimony to our obligation to offer global digital assets monitored by caution regulators and also meets the highest standards of consumer protection,” Walter Hesert, head of strategy at Paxos.
Fulfillment of requirements under EU MICA regulation requires that Paxos issue Europe regulated by Fin-FSA has part of USDG reserve assets with European bank partners, Paxos said.
