The Global Dollar (USDG) stablecoin has officially launched in the European Union, with Paxos asserting its compliance with the region's Markets in Crypto-Assets Regulation (MiCA) and oversight from the Finnish Financial Supervisory Authority and Singapore's central bank. Announced on Tuesday, USDG is now accessible in the EU via major crypto exchanges like Kraken and Gate, along with platforms such as Coinmetro and SwissBorg. Issued by Paxos Issuance Europe OY, the stablecoin aligns with MiCA regulations, maintaining a portion of its reserves in European banks and ensuring one-to-one redemption. Mark Greenberg from Kraken highlighted USDG's usability as stablecoins become integral to global finance. This launch coincides with the Global Dollar Network (GDN), a stablecoin initiative backed by Paxos and over 20 financial firms, including Mastercard. Recent data indicates a surge in stablecoin interest, with a market cap rising from $239 billion to $253.9 billion, reflecting their growing role in the global payment infrastructure. Read more AI-generated news on: https://app.chaingpt.org/news