Paxos Launches USDG Stablecoin in Singapore Compliant to Regulatory Framework

Paxos has launched its new Global Dollar (USDG), a US dollar-backed stablecoin designed to comply with the Monetary Authority of Singapore (MAS) regulatory framework. USDG’s reserves will be held by DBS Bank, Southeast Asia’s largest bank, known for its stringent compliance with financial regulatory standards. The stablecoin is initially available on the Ethereum blockchain and will soon be integrated into other blockchains. USDG aims to drive increased enterprise adoption of stablecoins by combining regulatory compliance with robust liquidity standards. DBS Bank will also serve as Paxos’ primary banking partner. USDG adheres to MAS’s stablecoin regulations.

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