Global Dollar Expands to the EU with MiCA on Kraken and Gate
The Global Dollar (USDG) stablecoin has launched in the European Union, compliant with the Markets in Crypto-Assets Regulation (MiCA) and overseen by the Finnish Financial Supervisory Authority and Singapore’s central bank. USDG is available through major crypto exchanges like Kraken and Gate, as well as other platforms such as Coinmetro and SwissBorg. Issued by Paxos through Paxos Issuance Europe OY, USDG guarantees one-to-one redemption and meets MiCA's reserve and audit requirements. The launch is part of the Global Dollar Network (GDN), supported by Paxos, Kraken, and over 20 financial firms, including Mastercard. Stablecoins have seen significant growth, with a market cap rising from $239 billion to $253.85 billion recently. Interest in stablecoins has tripled year-over-year since 2024, driven by their perceived utility in addressing financial challenges. Yield-bearing stablecoins have also surged to $11 billion in circulation, indicating rapid market expansion.
