Global cryptocurrency exchange OKX has joined Paxos' Global Dollar Network (GDN), enabling seamless integration of the regulated USDG stablecoin for its 60 million users across 180 countries. This partnership allows fee-free 1:1 USD-to-USDG conversions on OKX's platform, significantly expanding USDG's reach since its November 2024 launch.
USDG, with a circulating supply of $356 million, operates under regulatory oversight in Singapore and the EU, featuring full USD/T-bill backing in segregated accounts. The integration positions USDG as a compliant alternative to dominant stablecoins like USDT and USDC, emphasizing Paxos' transparent attestations and adherence to MiCA regulations in Europe.
The GDN's unique revenue-sharing model distributes earnings to partners based on platform contributions, incentivizing adoption among its 30+ members including Kraken and Robinhood. USDG supports Ethereum, Solana, and Ink blockchains, enabling faster settlements and DeFi integration.
OKX plans to expand USDG functionality across its ecosystem, enhancing trading pairs, cross-border payments, and institutional access while maintaining Proof of Reserves reporting.
