Paxos, Robinhood, and Galaxy-Backed Global Dollar Network Adds 19 New Members To Drive Adoption of USDG Stablecoin

Global Dollar Network (GDN), an open network designed to accelerate the global adoption of stablecoin, has announced the addition of 19 new members to its team. This move is part of the GDN's goal of expanding the adoption and real-world use case of stablecoins. 

Global Dollar Network Adds 19 New Members

The Global Dollar Network, a stablecoin consortium backed by Paxos and Robinhood, has added 19 new partners as it pushes to increase the adoption of its USDG stablecoin. The 19 partners added to the GDN network can be grouped into four categories. They are:

• Crypto Exchanges: BitMart, CoinMENA, Rain, Bitwyre, BiLira, Paribu, and PDAX.
• Crypto Custodians: Zodia Custody and Arculus.
• Stablecoin Payment Firms: Beam, FOMO Pay, AlfredPay, and Noah.
• Crypto Infrastructure Providers: Aquanow, Caliza, Rakkar Digital, Sling Money, August Digital, and Orbital.

This expansion brings the benefits of the USDG stablecoin that offers "fast, low-cost, 24/7 transactions and reward-sharing" to a wider customer base. BitMart has announced that by joining the consortium, the USDG stablecoin is now available to its 10 million user base. 

BitMart now allows its users to purchase USDG directly on its platform, with several USDG pairs already available. Similarly, other new partners will integrate the USDG into their respective platforms.

Before the announcement, there were reports that big names like Visa could join the GDN soon. However, Visa was not one of the 19 members to join the GDN. The limiting factor, according to some experts, is the regulatory uncertainty surrounding stablecoins. 

What is the Global Dollar Network and the USDG Stablecoin

The Global Dollar Network was launched in November 2024 with the aim of creating a new stablecoin alliance structured to reward partners for driving adoption. The GDN was created with a common goal by industry leaders to increase stablecoin adoption and expand real world use cases.

The GDN is a distributed network founded by Paxos, Robinhood, Kraken, Anchorage Digital, Galaxy Digital, Bullish, and Nuvei. The aim of the consortium is to build a stablecoin-enabled, accessible financial system. 

The Global Dollar (USDG) is a single-currency stablecoin pegged to the US dollar is the primary stablecoin anchoring the GDN. USDG was issued by Paxos Digital Singapore Pte. Ltd. under the supervision of the Monetary Authority of Singapore (MAS). 

The USDG is the 14th biggest stablecoin, with a circulating supply of more than $305 million, per data from CoinGecko. According to the GDN, the USDG stablecoin is substantively compliant with the upcoming stablecoin framework from MAS.

Paxos is one of the leading stablecoin issuers, with more than $160 billion minted since 2018. USDG is fully redeemable from Paxos on a 1:1 basis for US dollars. To ensure full transparency and reliability of financial data, Paxos publishes monthly reserve reports for the USDG stablecoin.

In February 2025, the GDN launched the USDG stablecoin on the Solana network as part of its step in multichain expansion. The USDG is also available on Ethereum. By expanding USDG's reach across blockchains, the GDN aims to provide seamless access to the stablecoin for enterprises and retail users.

            The Advantage of the USDG Stablecoin

While traditional stablecoin issuers often keep all the earnings from yield on their reserve holdings, the GDN shares nearly all of these proceeds with its partners in the network. The GDN website states that partners will receive up to "100% of the returns generated by assets backing USDG held on their platforms."

Additional revenue can be generated for "minting and accepting USDG. USDG on Solana will soon be available on the platforms of Global Dollar Network members." The goal is to make sure partners receive a fair portion of the rewards generated by promoting the use of USDG.

Importance of the New Members for the USDG Stablecoin

The Global Dollar Network wants to improve the stablecoin ecosystem "by ensuring fair economics for network participants and empowering new use cases globally." The aim of the GDN consortium is to build a stablecoin-enabled, accessible financial system.

The GDN will achieve this by operating a regulatory-compliant USDG with a high level of transparency. The addition of new partners to the GDN creates new use cases for the USDG stablecoin, including cross-border payments, card payments, remittances, treasury management, and more.