Kraken, Robinhood-backed MiCA-compliant Global Dollar stablecoin lands in EU
Paxos launches the Global Dollar stablecoin in the EU, claiming MiCA compliance and support from Kraken, Robinhood and Mastercard under the GDN initiative.
The Global Dollar (USDG) stablecoin has launched in the European Union, with issuer Paxos claiming compliance with the region’s Markets in Crypto-Assets Regulation (MiCA), as well as oversight from the Finnish Financial Supervisory Authority and Singapore’s central bank.
According to a Tuesday announcement, the Paxos-issued USDG is now available in the EU through partners including major crypto exchanges Kraken and Gate. Other platforms that offer the stablecoin include Coinmetro, SwissBorg, Zodia Custody, Orbital, Hercle, CoinsPaid, Bitwyrem, Bitnet and HiFi.
Paxos issues USDG in Europe through Paxos Issuance Europe OY, a Finland-based entity overseen by the country’s Financial Supervisory Authority. The stablecoin is structured to align with MiCA regulations, with a portion of its cash reserves held in European banks. Paxos said it guarantees one-to-one redemption and adheres to MiCA’s stringent reserve and audit requirements.
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