Global dollar (USDG)A stable issued by Fintech regulated Paxos, and backed by a heavy batter consortium that includes Robinhood, Kraken and Mastercard, is being made available to consumers of the European Union, according to a press release on Tuesday.
USDG is regulated by Europe’s markets in crypto-actives (Mica)The Finnish financial supervision authority (FIN-FSA)and Singapore’s monetary authority (Further)Paxos said in a statement.
The demand for support of the US dollar is growing in Europe, where the Circle USDC token is the largest regulated option in Mica. The USDG will have a significant impact as an alternative regulated option, Paxos said.
“Usdg is a fully regulated USD-Stablecoin that meets Mica and is now available in the EU, a testimony of our commitment to offer global digital assets supervised by prudential regulators and also comply with the highest consumer protection standards,” said Walter Hessert, head of strategy in Paxos.
The compliance requirements under the EU’s MICA regulation require that the issuance of Europe Paxos, which is finally regulated, has a part of the USDG reserve assets with European bank partners, Paxos said.
