The Global Dollar (USDG) stablecoin has launched in the European Union, issued by Paxos which claims compliance with the region’s Markets in Crypto-Assets Regulation (MiCA). USDG is available in the EU through major exchanges including Kraken and Gate, and other platforms such as Coinmetro and SwissBorg. Paxos issues USDG via a Finland-based entity overseen by the Finnish Financial Supervisory Authority, and emphasizes one-to-one redemption while adhering to MiCA's reserve and audit requirements. Mark Greenberg from Kraken noted the increasing usability and ecosystem around USDG, as the expansion into Europe aligns with the Global Dollar Network (GDN), supported by notable firms including Robinhood and Mastercard. Recent reports indicate a significant rise in stablecoin market capitalization, reaching $253.85 billion, driven by growing demand among consumers and businesses. A report from Coinbase reflects that stablecoins are establishing themselves as essential to the global payment infrastructure, with yield-bearing stablecoins notably increasing in market share.

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