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What Is Global Dollar?

Global Dollar (ticker USDG) is a US dollar stablecoin issued by Paxos and backed 1:1 by US dollar deposits, short-duration US government securities, and cash equivalents. It launched on November 1, 2024, and is distributed through the Global Dollar Network, a consortium of exchanges, brokers, custodians, and payment companies built around a simple idea: share the money the reserves earn with the platforms that drive adoption, rather than keeping it all at the issuer.

USDG's regulatory setup is unusually layered. The primary issuer is Paxos Digital Singapore, a Major Payments Institution supervised by the Monetary Authority of Singapore, with reserves banked and custodied through DBS, Southeast Asia's largest bank. For Europe, Paxos Issuance Europe, an e-money institution regulated by Finland's Financial Supervisory Authority, issues USDG in compliance with the EU's MiCA framework, and USDG launched to EU consumers on July 1, 2025. Reserves sit in segregated, bankruptcy-remote accounts, with monthly independent attestations (conducted by KPMG since early 2026) published on the Paxos transparency page.

The Global Dollar Network is USDG's real differentiator. Founding partners at the November 2024 launch were Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos, and Robinhood. Mastercard, Worldpay, and OKX joined during 2025, and by December 2025 the network had passed 100 partners, including Gemini, KuCoin, and dozens of wallets, custodians, and DeFi protocols. Paxos says over 90 percent of the earnings on reserves are distributed to network partners based on the USDG they hold, mint, or accept, which partners can pass on to their users as rewards.

USDG is a standard fiat-backed token deployed on Ethereum, Solana, Arbitrum, Ink, X Layer, and Robinhood Chain. Supply growth has been rapid: USDG crossed 1 billion dollars in market capitalization in December 2025 and stood around 3.1 billion dollars by July 2026, making it one of the largest regulated stablecoins.

The project's main controversy came in June 2025, when founding partner Anchorage Digital announced it would phase out support for USDC and steer clients toward USDG, citing a "stablecoin safety matrix." Critics called the move self-serving given Anchorage's commercial stake in the Global Dollar Network. USDG itself has had no depeg incidents.

Getting Started With Global Dollar

USDG works like other major stablecoins, with the added option of partner rewards:

  1. Step 1: Acquire USDG on a partner platform such as Kraken, Robinhood, or OKX, or swap into it on a decentralized exchange.
  2. Step 2: Hold it on the platform, where many partners pay rewards on USDG balances, or withdraw to a self-custody wallet.
  3. Step 3: Use USDG for payments, trading, or DeFi on Ethereum, Solana, and its other supported chains.
  4. Step 4: Redeem 1:1 for US dollars through Paxos or a partner platform at any time.

How to Get a Global Dollar Wallet?

USDG is a standard token on each of its chains, so mainstream wallets work.

MetaMask

MetaMask holds USDG on Ethereum, Arbitrum, Ink, and X Layer as a standard ERC-20 token.

Phantom

Phantom and other Solana wallets hold the SPL version of USDG, which trades actively on Solana DEXes.

Trust Wallet and Tangem

Trust Wallet supports USDG, and hardware maker Tangem is a Global Dollar Network partner, giving cold-storage options for larger balances.

Global Dollar Resources

How to Buy Global Dollar?

USDG is available on major exchanges and brokerages, especially Global Dollar Network partners.

Centralized Exchanges

USDG trades on Kraken (USD and USDT pairs), OKX, Gate, BitMart, and Bullish, and is available to Robinhood users.

Decentralized Exchanges

On Ethereum, USDG trades on Curve and Uniswap; on Solana, on Orca and Raydium; and on Robinhood Chain, on Uniswap. It also has DeFi integrations with Jupiter and Kamino on Solana.

Latest Global Dollar News

USDG's growth has accelerated through 2026. In June, Mastercard expanded its 24/7 on-chain card settlement to include USDG alongside a handful of other regulated stablecoins. On July 1, 2026, Robinhood rolled out USDG to US retail users alongside the launch of Robinhood Chain, using it as the lending asset in Robinhood Earn. The Global Dollar Network now counts more than 130 partners, and the token's market capitalization passed 3 billion dollars in mid-2026.

Paxos publishes monthly reserve attestations on its transparency page, and the Global Dollar newsroom tracks new partners and chain deployments. As a consortium-driven stablecoin, USDG's trajectory depends heavily on how aggressively partners like Kraken, Robinhood, and Mastercard push it into their products.