Paxos Launches USDG Stablecoin, Expanding Regulatory Compliance Efforts

   Paxos has introduced the Global Dollar, a stablecoin compliant with Singapore's Monetary Authority regulations, following the earlier Lift Dollar launch. Backed 1:1 by the US dollar, USDG's reserves are managed by DBS Bank, enhancing its credibility. Paxos aims to distribute USDG globally through partnerships with crypto exchanges and wallets. The stablecoin adheres to MAS's framework with plans for expansion to other blockchains. Paxos emphasizes regulatory compliance and market stability in its operations