Paxos Launches USDG Stablecoin in Europe with Robinhood and Kraken Support
Date: 2025-07-02 Author: Oliver Abernathy Categories: BUSINESS
Paxos, through its Finnish subsidiary Paxos Issuance Europe OY, has launched the Global Dollar (USDG) stablecoin, pegged to the US dollar, targeting the EU market. The project is supported by major crypto industry players Robinhood, Kraken, Galaxy Digital, and Anchorage Digital, who are providing support and promotion for the new asset.
To ensure reliability and compliance with European regulations, Paxos plans to hold a significant portion of USDG reserves in European banks, and will also provide users with the ability to individually redeem coins. This solution complies with the strict requirements of the MiCA regulation, which requires transparency and high audit standards for stablecoins.
Despite strict regulations, the EU market is showing growing interest in dollar stablecoins. According to Paxos, USDG is aimed at competing with existing regulated coins such as Circle’s USDC, which was the first to receive a MiCA license. This highlights the company’s desire to expand its presence in the European crypto space and provide users with a stable digital dollar.
USDG is already available for trading on crypto exchanges Kraken, Gate, CoinsPaid, and Zodia Custody. The stablecoin operates on several blockchains, including Ethereum, Ink, and Solana, which makes it possible to reach about 450 million EU residents, giving them access to a digital dollar with European levels of security and regulation. Paxos’ head of strategy Walter Hessert noted that this move will help meet the growing demand for reliable crypto assets in the region.
According to analytical resource CoinGecko, USDG’s market cap is currently around $322 million. In addition, Paxos issues three more cryptocurrencies backed by the dollar: USDP, PYUSD from PayPal, and USDL, which generates income for its holders.
Thus, the launch of USDG has become an important step in strengthening Paxos' position in the European cryptocurrency market and creating a reliable ecosystem of digital currencies that meets modern standards of security and regulatory compliance.
The company continues to actively develop a portfolio of dollar stablecoins, which allows it to remain a key player in the field of digital finance and meet the needs of various categories of investors and users.
