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Paxos Launches Stablecoin USDG for EU Users Following MiCA Framework
Summary: Paxos has launched the stablecoin USDG for all EU users, a stablecoin pegged to the US dollar supported by a consortium including Robinhood, Kraken, Galaxy Digital, and Anchorage Digital. USDG is issued by Paxos through its European entity Paxos Issuance Europe OY, regulated by the Finnish Financial Supervisory Authority, and compliant with the EU's Markets ...
Paxos has launched the stablecoin USDG for all EU users, a stablecoin pegged to the US dollar supported by a consortium including Robinhood, Kraken, Galaxy Digital, and Anchorage Digital. USDG is issued by Paxos through its European entity Paxos Issuance Europe OY, regulated by the Finnish Financial Supervisory Authority, and compliant with the EU's Markets in Crypto-Assets Regulation framework. Paxos holds part of the cash reserves in European banks, commits to 1:1 redemption to meet MiCA's asset reserve and audit requirements. Despite tightening crypto regulations in the EU, there is a growing demand for USD stablecoins. Walter Hessert, Paxos' Head of Strategy, stated that this stablecoin can be traded on platforms like Kraken, Gate, CoinsPaid, and Zodia Custody, and circulated on Ethereum, Ink, and Solana blockchains, providing a compliant USD stablecoin option for 450 million EU residents.
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Link: Paxos Launches Stablecoin USDG for EU Users Following MiCA Framework [Copy]
