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Global Dollar
About Global Dollar
Global Dollar (USDG) is a fiat-referenced stablecoin issued by Paxos Digital Singapore Pte. Ltd., pegged 1:1 to the US dollar and governed under the Monetary Authority of Singapore’s forthcoming stablecoin framework. It is deployed on Ethereum and other public blockchains approved by MAS. Each token is fully backed by reserves composed of US dollars and short-term cash equivalents, held in segregated accounts. USDG is redeemable at par through Paxos and is used for digital payments, settlements, cross-border transfers, treasury management, and DeFi. The issuance, redemption, and transfer of USDG are managed via audited smart contracts. Paxos Group, the issuer, is regulated across multiple jurisdictions and has issued over $160 billion in stablecoins since 2018.
The Global Dollar Network refers to the broader ecosystem supporting the use and integration of Global Dollar (USDG), a US dollar-pegged stablecoin. It is not a separate protocol or blockchain but rather a framework for enabling regulated stablecoin transactions across public blockchains such as Ethereum and other approved Layer 1 and Layer 2 networks. The network facilitates around-the-clock stablecoin issuance, redemption, and use for payments, treasury, and settlements, supporting both enterprise and individual users.
Participants in the Global Dollar Network include wallets, fintechs, payment providers, and financial institutions that integrate USDG into their systems. These entities use the stablecoin infrastructure to power use cases such as cross-border transfers, remittances, card payments, and decentralised applications. USDG is issued and redeemed directly by Paxos Digital Singapore (PDS), with interoperability across blockchain protocols enabled by smart contracts.
Global Dollar (USDG) is a US dollar-pegged single-currency stablecoin (SCS) issued by Paxos Digital Singapore Pte. Ltd. (PDS). Each USDG is backed 1:1 by US dollars or cash equivalents and is redeemable on demand. The stablecoin is deployed as an ERC-20 token on Ethereum and as a standard token on other public blockchains approved by the Monetary Authority of Singapore (MAS).
USDG is governed by the forthcoming MAS stablecoin framework, which establishes requirements around value stability, capital requirements, redemption at par, and disclosures. The stablecoin is fully collateralised with reserves held in segregated safeguarding accounts, ensuring user protection even in the event of issuer insolvency.