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GDN adds 19 new partners to expand USDG stablecoin adoption.
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USDG is issued by Paxos and runs on Solana.
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The network redistributes most reserve yield to its partners.
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Visa was reportedly considering joining but has not signed on.
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GDN expects strong growth if U.S. stablecoin regulation advances.
New Members Strengthen Regional Reach
The Global Dollar Network (GDN), a stablecoin alliance co-founded by Paxos, Robinhood, Kraken, and others, has welcomed 19 new partners to help scale adoption of its USDG stablecoin. The new entrants include exchanges like BitMart, wallets like Arculus, and payments providers such as Beam, FOMO Pay, and AlfredPay. These additions broaden GDN’s reach across the Middle East, Southeast Asia, and Europe.
USDG: Designed for Adoption and Compliance
USDG is a dollar-backed stablecoin issued by Paxos Digital Singapore and operates on the Solana blockchain. It is designed to be compliant with Singapore’s upcoming stablecoin rules and will expand to other chains in the future. Unlike most stablecoins, USDG’s model shares yield revenue with network participants, incentivizing adoption.
GDN’s Partner-Centric Revenue Model
GDN’s model differs from legacy stablecoins by rewarding contributors rather than concentrating revenue with the issuer. Monthly rewards are distributed based on roles like custody, minting, and payments. While this model benefits companies, it does not offer yield to end users, unlike rising competitors like USDe and BUIDL.
Regulatory Hurdles and Growth Outlook
GDN’s expansion comes amid uncertainty around U.S. stablecoin legislation. The GENIUS Act recently failed a Senate vote, but Paxos remains hopeful about a bipartisan resolution. With over 25 partners now, USDG has access to 42 million users globally, and its supply is expected to grow significantly this year.
