Global Dollar Network (GDN) announced the launch of Global Dollar (USDG) issued by Paxos on the Ink Blockchain – Layer-2 blockchain released by Kraken.
USDG on Ink provides users and developers a stable asset for transactions, liquidity provision and interactions with many different DeFi applications.
Features of USDG serving demanding onchain environments:
– Fully backed 1:1: Global Dollar (USDG) is a single-currency stablecoin pegged to the US dollar. USDG is redeemable from Paxos on a one-to-one basis for US dollars.
– Trusted and transparent: Paxos publishes monthly reserve reports for all Paxos-issued stablecoins, including USDG, to ensure full transparency and reliability of financial data.
– Powerful integration: USDG is designed for deep integration, offering native performance on Ink while maintaining its Ethereum compatibility for broader accessibility. USDG is also available on Solana.
The launch of Global Dollar (USDG) on the Ink Blockchain by Kraken provides a stable, transparent, and interoperable digital asset designed to support a wide range of onchain financial activities across multiple blockchain ecosystems.
Image: Global Dollar
