Chris Fernando 
Global Dollar (USDG), a stablecoin issued by regulated fintech firm Paxos, is now accessible to consumers across the European Union. The stablecoin is backed by a group including Robinhood, Kraken, and Mastercard.
USDG is regulated under Europe’s Markets in Crypto-Assets (MiCA) framework, the Finnish Financial Supervisory Authority (FIN-FSA), and the Monetary Authority of Singapore (MAS), according to a statement from Paxos.
Paxos indicated that demand for U.S. dollar-backed stablecoins is increasing in Europe, where Circle’s USDC token is currently the largest MiCA-regulated option. USDG is positioned as an alternative regulated choice.
“USDG is a fully regulated global USD-stablecoin that is compliant with MiCA and now available in the EU, a testament to our commitment to offering global digital assets that are supervised by prudential regulators and also meet the highest standards of consumer protection,” said Walter Hessert, head of strategy at Paxos.
To meet the requirements of the EU’s MiCA regulation, Paxos Issuance Europe, which is regulated by FIN-FSA, will hold a portion of USDG’s reserve assets with European banking partners, Paxos stated.
