On Nov. 5, crypto, venture capital, and fintech firms Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos, and Robinhood announced the launch of the “Global Dollar Network.” The partners are combining resources and expertise to increase stablecoin adoption and expand real-world use cases with the launch of the Global Dollar USDG stablecoin. The new stablecoin aims to address the limitations of existing ones by promising to return “virtually all rewards” to participants, providing an open network model that allows additional partners to join, and focusing on meeting enterprise-grade standards and consumer protections.
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