Some of the largest forces in crypto and digital assets are coming together to build a new network for stablecoins.

‍What’s happening:‍

• Blockchain infrastructure platform Paxos has launched the Global Dollar Network which is aiming to accelerate the adoption of stablecoin technology
  

The big idea:‍

• The Global Dollar Network has issued a new stablecoin known as USDG that is fully compliant with regulators and is purpose built to be integrated with large financial platforms, trading exchanges and brokerages
  
• Paxos is aiming to be a first mover in bringing stablecoins into highly regulated financial markets and enabling seamless cross border transactions that are fully compliant
  

Why it matters:‍

• The Global Dollar Network is launching with multiple highly important partners, including Anchorage Digital, Bullish, Galaxy Digital (TSX: GLXY) and Robinhood (NASDAQ: HOOD)
  
• The pursuit of stablecoin dominance has begun to go to new levels recently, with Stripe notably making waves with a billion dollar buyout of stablecoin technology company Bridge
  

Going deeper:‍

• Existing users of Anchorage Digital, Kraken and Galaxy Digital will be able to access USDG immediately and begin using it for global transactions and payments
  

The intrigue:‍

• Paxos was one of the technology partners behind PayPal’s (NASDAQ: PYPL) launch of their very own stablecoin, which has since experienced huge levels of adoption from users and integrated onto low fee blockchains such as Solana

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