USDG Fuels New Range of Stablecoin Use Cases

Active Monthly Users 10x in Past Quarter

More than 90% of Earnings on Stablecoin Holdings Were Distributed to Network Partners

NEW YORK, Dec. 4, 2025 /PRNewswire/ -- Global Dollar Network (GDN) today announced that it has grown to more than 100 partners globally and its leading USD-backed stablecoin, Global Dollar (USDG), surpassed a market capitalization of $1 billion. This growth validates the vision to empower a more open, enterprise-grade digital dollar ecosystem—fueling real-world financial use cases and rewarding network partners for their contributions to growing the network. Partners can earn rewards by minting USDG, holding USDG or accepting USDG.

Over the past several months, the network has rapidly expanded, with more than 100 partners joining GDN—all committed to growing utility and access to USDG. Notable recent joiners include exchanges & trading specialists (Archax, B2C2, Bilira, Bitnet, Gate, Gemini, JST Digital, Keyrock, Kucoin, LBank, LTP, Merj, Ourbit, PDAX,  SwissBorg, Wintermute, Wirex), defi applications (Aleo, Marinade, ONre, Solstice Labs), infrastructure providers (1Money, Kravata, Tangem, TOPOS, Transak, WalletConnect) and payment providers and fintechs (Alpaca, AMINA Bank, Confirmo, DeFi Development Corp., Keabank, Orbi Payments, Reap, Ripe Money, Toku, Yellowcard ).  These companies join industry leaders such as Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, OKX, Paxos, Robinhood, Worldpay and others driving USDG usage.

USDG's adoption underscores global demand for a trusted dollar-backed stablecoin that combines equitable economics under clear regulatory authority across geographies. By crossing the $1 billion threshold, USDG becomes one of the few stablecoins that has achieved scale and deep liquidity while maintaining strict standards of transparency. Network partners are using USDG to power a broad range of use cases:

• Earn Programs: AMINA Bank, Gate, Kraken, Luno and OKX each introduced USDG rewards programs on their platforms. When buying, converting or depositing USDG in their wallets, users earn rewards on their USDG holdings. These rewards are then paid out weekly and users will see their balances increase over the duration of holding.
• Expanded Trading Capabilities: Partners like OKX have added USDG as collateral for margin and perps trading, while Bilira, Kucoin and SwissBorg offer extensive trading pairs against USDG.
• Corporate Treasury: Bullish, Kraken, OKX, Aleo, Galaxy, Confirmo, Gate and Fuze are putting their funds to work by holding their dollars in USDG. In August, Bullish received IPO proceeds in stablecoins which underscore the role USDG is playing in payments.
• Settlement via USDG: Alpaca and Kraken leverage USDG as a preferred settlement currency for tokenized equities trading on their platforms.
• Utility in DeFi Markets: USDG has expanded reach in defi across a variety of use cases including as a trusted asset on lending venues such as Kamino, JupLend and Loopscale in addition to being adopted as a core stable asset by Marinade, Solstice, OnRe and more. With Paxos Labs' launch of USDG0, more ecosystems can tap into the benefits of a global, interoperable stablecoin.
• Payments: Kraken uses USDG in its payments flows as Krak app users can instantly send and receive funds across 160+ countries. OKX Pay similarly enables instant, low-cost USDG payments allowing users and merchants to transact globally with the speed and transparency of on-chain settlement. And partners are expanding into consumer payments, with Orbi powering card spend backed by USDG in Mexico and Toku powering USDG-based payroll.

This real-world adoption of USDG has only been amplified by deeper liquidity across order books driven by market makers like Keyrock, B2C2 and JST Digital. Additionally OKX introduced a unified USD order book including USDG that allows its users to tap into one seamless dollar market that facilitates deeper liquidity, tighter spreads and more efficient execution.

Ronak Daya, Head of Product of Paxos, commented on behalf of Global Dollar Network: "Global Dollar Network is open to all and incentivizes growth through shared economics. Partners earn best-in-class, transparent and equitable economics based on their usage. The network provides global regulatory compliance, ecosystem support and liquidity so partners can focus on delivering value to their users. At $1 billion in market cap and more than 100 partners, the model is working. We're just getting started."

USDG powers Global Dollar Network and is available on Solana, Ink, X Layer and Ethereum. USDG is issued by Paxos Digital Singapore, which is a Major Payments Institution supervised by the Monetary Authority of Singapore. USDG is also issued by Paxos Issuance Europe under the supervision of FIN FSA and in compliance with MiCA.

About Global Dollar Network
Global Dollar Network is the world's fastest-growing stablecoin network with unmatched economic upside. Powered by Global Dollar (USDG), a US dollar-backed stablecoin issued by Paxos Digital Singapore and Paxos Issuance Europe, Global Dollar Network offers a transparent and equitable economic model that rewards partners for their contributions. Global Dollar Network partners include industry leaders such as Anchorage Digital, Bullish, Kraken, Nuvei, OKX, Paxos, Robinhood, Worldpay and more.

About USDG in the EU
Paxos issues USDG in the EU through Paxos Issuance Europe OY ("PIE"). USDG is fully redeemable from Paxos on a one-to-one basis for U.S. dollars. All USDG token holders in the EU have a right of redemption against PIE at any time and at par value for USDG. Further information is available at paxos.com/eu, and the EU USDG White Paper is available at www.paxos.com/terms-and-conditions/usdg-eu-whitepaper.

Contact information:
Email: support@paxos.com
Telephone: +358 4549 00 361

Note: USDG is available on Solana, Ink, X Layer and Ethereum.

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SOURCE Global Dollar Network