Latest news with #Paxos
Yahoo
a day ago
- Business
- Yahoo
Robinhood, Kraken-Backed Global Dollar (USDG) Comes to Europe
Global Dollar (USDG), a stablecoin issued by regulated fintech Paxos, and backed by a consortium of heavy hitters that includes Robinhood, Kraken and Mastercard, is being made available to consumers across the European Union, according to a press release on Tuesday. USDG is regulated by Europe's Markets in Crypto-Assets (MiCA), the Finnish Financial Supervisory Authority (FIN-FSA), and the Monetary Authority of Singapore (MAS), Paxos said in a statement. Demand for U.S. dollar-backed stablecoins is growing in Europe where Circle's USDC token is the largest MiCA-regulated choice. USDG will make a significant impact as an alternative regulated option, Paxos said. 'USDG is a fully regulated global USD-stablecoin that is compliant with MiCA and now available in the EU, a testament to our commitment to offering global digital assets that are supervised by prudential regulators and also meet the highest standards of consumer protection,' said Walter Hessert, head of strategy at Paxos. Fulfilling requirements under the EU's MiCA regulation necessitates that Paxos Issuance Europe, which is regulated by FIN-FSA, holds a portion of USDG reserve assets with European banking partners, Paxos said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Global Dollar (USDG) Launches in the EU
Launched by Paxos and Available on Kraken and Gate, USDG is a Fully Regulated, Global USD-Stablecoin That is Compliant with MiCA and Now Available in the EU USDG Powers Global Dollar Network, the stablecoin ecosystem with unmatched economic upside for partners that includes Anchorage Digital, Kraken, Mastercard, Paxos, Robinhood, Worldpay, and 20+ other industry-leading fintechs and financial services companies. NEW YORK, July 1, 2025 /PRNewswire/ -- Global Dollar (USDG), a global stablecoin regulated by EU's Markets in Crypto-Assets (MiCA), the Finnish Financial Supervisory Authority (FIN-FSA), and the Monetary Authority of Singapore (MAS), is launching to consumers across the European Union today. Backed by Global Dollar Network (GDN) and issued by Paxos, USDG is a fully compliant, global stablecoin and is now available in this market, opening up access to over 450 million consumers in 30 countries. As Europe's crypto ecosystem is growing exponentially, so too is the demand for U.S. dollar-backed stablecoins. USDG will make a significant impact as a regulated option available to European consumers, now available from trusted industry partners, including Kraken, Gate, Coinmetro, SwissBorg, Zodia Custody, Orbital, Hercle, CoinsPaid, Bitwyre, Bitnet and HiFi. USDG is currently available on Solana, as well as Ethereum and Ink. "As demand for stablecoins continues its rapid ascent, Paxos is incredibly proud to introduce USDG to the European market," said Walter Hessert, Head of Strategy at Paxos, the issuer of USDG. "USDG is a fully regulated global USD-stablecoin that is compliant with MiCA and now available in the EU, a testament to our commitment to offering global digital assets that are supervised by prudential regulators and also meet the highest standards of consumer protection. We're excited to partner with some of the leading players in Europe to bring this leading standard of compliance to more than 450 million consumers in the European Union." "As stablecoins become core infrastructure for global finance, USDG stands out for its usability and growing ecosystem," said Mark Greenberg, Global Head of Consumer at Kraken. "Our focus is always on giving clients better tools to navigate the crypto economy, and supporting USDG's expansion into Europe helps us connect more clients to the digital dollar economy." USDG powers Global Dollar Network, an open network designed to accelerate stablecoin adoption worldwide. Partners including Anchorage Digital, Kraken, Paxos, Robinhood, Worldpay and 20+ other industry-leading fintechs and financial services companies are uniting resources and expertise to increase stablecoin adoption and expand real world use cases in the region and around the world. Mastercard and Fiserv recently announced they will join this growing ecosystem of industry-leading companies. Since the launch of the USDG in November 2024, Paxos' issuance of USDG from Paxos Digital Singapore Pte. Ltd. has been substantially compliant with the Monetary Authority of Singapore's (MAS) upcoming stablecoin framework. Fulfilling requirements under the EU's Markets in Crypto-Assets (MiCA) regulation necessitates that Paxos Issuance Europe, which is regulated by FIN-FSA, holds a portion of USDG reserve assets with European banking partners. With this development, Paxos is in close consultation with MAS on a transition plan to remain substantively compliant with MAS' upcoming stablecoin framework. Meanwhile, safeguards are in place to ensure that USDG will always be redeemable at par by all holders regardless of where they are redeemed, in accordance with the regulatory requirements of both the MAS and EU. Paxos remains committed to being substantially compliant with MAS' upcoming stablecoin framework. MAS is a globally recognized regulator and a forward-thinker in digital asset regulation. The MPI license granted to Paxos highlights the company's standing as a regulated service provider that is subject to MAS's oversight, fostering trust and adoption for digital assets like USDG. About Global Dollar Network Global Dollar Network (GDN) is an open, distributed network of leading enterprises working to accelerate stablecoin adoption worldwide. Powered by Global Dollar (USDG), a US dollar-backed stablecoin issued by Paxos Digital Singapore, GDN offers a transparent and equitable economic model that rewards partners for their contributions. Founded by Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos and Robinhood, GDN is revolutionizing the financial system by making it more accessible and efficient for all. About Paxos Paxos is the leading regulated blockchain infrastructure and tokenization platform. Its products are the foundation for a new, open financial system that can operate faster and more efficiently. Today, trillions of dollars are locked in inefficient, outdated financial plumbing that is inaccessible to millions of people. Paxos is replatforming the financial system to enable assets to instantaneously move anywhere in the world, at any time, in a trustworthy way. Paxos partners with leading global enterprises to tokenize, custody and trade assets. Its blockchain solutions are used by leaders like PayPal, Interactive Brokers, Mastercard, Mercado Libre and Nubank. Paxos is licensed to engage in virtual currency business activity by the NYDFS and is the issuer of numerous regulated digital assets including PayPal USD (PYUSD), Pax Dollar (USDP) and Pax Gold (PAXG). Its affiliate company Paxos International issues the yield-bearing regulated stablecoin Lift Dollar (USDL). Global Dollar (USDG) is issued by Paxos Digital Singapore, which is a Major Payments Institution supervised by the Monetary Authority of Singapore. USDG is also issued by Paxos Issuance Europe under the supervision of FIN FSA and in compliance with MiCA. USDG is also available on Solana. Prudentially regulated by FIN FSA in Europe, the NYDFS in the US, the MAS in Singapore and FSRA in Abu Dhabi Global Market, Paxos is a leading fintech company with more than $500 million raised from leading investors including Oak HC/FT, Declaration Partners, Founders Fund and PayPal Ventures. About USDG in the EU Paxos issues USDG in the EU through Paxos Issuance Europe OY ("PIE"). USDG is fully redeemable from Paxos on a one-to-one basis for U.S. dollars. All USDG token holders in the EU have a right of redemption against PIE at any time and at par value for USDG. Further information is available at and the EU USDG White Paper is available at Contact: press@ View original content to download multimedia: SOURCE Global Dollar Network Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TTG
6 days ago
- Business
- TTG
Domes Resorts unveils new sub-brand The Finds
Domes, Greece's prestigious luxury lifestyle hospitality brand, is set to introduce a fifth brand to its portfolio, The Finds, with the launch of its first property Neema Maison Finikia Santorini in July 2025, alongside Agali Hotel in Paxos, which has been operated by Domes for the past two years. It follows a successful past 12 months with new hotels including 91 Athens Riviera, and Domes Novos Santorini. Domes Finds resorts has been created for curious world travellers and offers authentic, curated experiences and beautifully designed spaces to encourage guests to slow down, explore and reconnect. The Finds hotels are community-driven, shaped by the people, pace, and place around them. Each property has a unique creative concept informing all aspects of the hotel, and reflects the group's evolution toward meaningful, experience-driven hospitality. Domes Finds seeks to inspire guests to live a better life, travel with intention, and experience the world with fresh eyes. Neema Maison Finikia Santorini is situated in the village of Finikia on the northern, more tranquil side of Santorini, renowned for natural beauty, incredible views and local charm with family run cafes, wine cellars and olive presses. The boutique property will feature 16 suites, with some rooms featuring jacuzzis or beautiful loft style spaces, and contemporary interiors with whitewashed walls and soft red pops of colour. 'Neema' is inspired by the ancient Greek word for 'thread,' a symbol of elegance, craftsmanship, and destiny. Located above the secluded bay of Plakes Beach on the island on Paxos, beachfront resort Agali Hotel Paxos features 33 traditional bungalows, crafted from native Paxos stone, offering a serene escape for guests with views of the Ionian Sea. The adults and teens-only resort embodies the principles of slow living, farm-to-table dining and holistic wellness. 'Agali' means 'without rush' and embodies the soulful, quintessential philosophy of Paxos Islanders, where slow living is a way of life. Domes currently offers four unique hotel categories: Domes Noruz offering vibrant, adults-only lifestyle retreats; Domes Aulūs providing a sophisticated take on five-star all inclusive resorts, Domes Originals featuring iconic award-winning resorts; and Domes Reserves with its unique, design-led spaces.
Yahoo
25-06-2025
- Business
- Yahoo
Mastercard Expands Stablecoin Push With Paxos, Fiserv and PayPal Integrations
Mastercard (MA) is doubling down on stablecoins with a series of partnerships and product expansions aimed at embedding regulated digital dollars into the everyday payments network. The payments giant said on Tuesday it will integrate several stablecoins including PayPal's PYUSD, the Paxos-led Global Dollar (USDG) and Fiserv's recently unveiled FIUSD into its global network, which already includes support for Circle's USDC. It is also introducing stablecoin transactions for cross-border payments through Mastercard Move. The company also said it's also working with financial technology provider Fiserv (FI) to bring FIUSD support to its card products, on- and offramps and merchant settlements, and will let consumers spend both fiat and stablecoin balances under a single interface with Mastercard One Credential. The initiatives are the latest examples of global banks and payment firms racing to embrace stablecoins, a type of digital currency with prices anchored to an external asset such as fiat currencies, into their offerings. It's a $260 billion, and rapidly growing, asset class and promises programmable transactions and faster, cheaper payments than through traditional banking channels. Institutional adoption is accelerating after the U.S. Senate passed the GENIUS Act to regulate the stablecoin sector. "We expect that consumers and businesses will continue to use fiat currency with their Mastercard cards for most use cases," Jorn Lambert, chief product officer at Mastercard, said in a blog post. "But regulated stablecoins are undoubtedly part of the evolution of digital payments." These moves mean financial institutions and businesses could soon mint, redeem and settle transactions using select stablecoins, while consumers may use them in the same way they would use traditional currencies for transfers and payments, including at the firm's 150 million merchant locations. The stablecoin integrations join existing digital asset offerings, which span card programs with crypto firms that allow users to spend their crypto holdings to merchant settlements and tokenized bank deposits. Future plans include enabling programmable payments via Mastercard's Multi-Token in to access your portfolio
Yahoo
25-06-2025
- Business
- Yahoo
Exclusive: Mastercard joins USDG stablecoin group, adds support for PayPal and Fiserv tokens
Mastercard isn't waiting for crypto companies to supplant its massive payment network. Instead, it's joining them. On Tuesday, the publicly traded company announced that it had entered the stablecoin consortium Global Dollar Network, which includes the online brokerage Robinhood as well as the crypto exchange Kraken. Launched in November 2024 by the crypto company Paxos and six other partners, the consortium lets members mint, or create, the network's stablecoin USDG, a cryptocurrency pegged to the U.S. dollar. Members of the group share the interest earned from the reserves backing the stablecoin, which are usually U.S. Treasuries. In addition to USDG, Mastercard said it was adding support for PYUSD, or PayPal's token, as well as FIUSD, a recently launched stablecoin from the banking technology provider Fiserv. Mastercard already supports USDC, the stablecoin issued by the company Circle, which recently went public in one of the year's hottest IPOs. (These firms are not part of the USDG consortium). 'If the stablecoins are well-formed, well-regulated, and they meet our criteria, we will enable them in a variety of use cases,' Raj Dhamodharan, an executive vice president at Mastercard in charge of the company's crypto and blockchain efforts, told Fortune. He declined to say whether his company planned to add support for USDT, the most popular stablecoin whose issuer Tether has long been in the crosshairs of regulators. Mastercard also said it was adding stablecoins to its cross-border and remittances network called Mastercard Move, whose customers include MoneyGram. The remittances company did not immediately respond to a request for comment on whether it plans to let its own customers send or receive the tokens. Mastercard's decision to wade further into crypto comes as stablecoins, or cryptocurrencies that are pegged to real-world assets like the U.S. dollar or the Euro, have become one of the buzziest sectors in Silicon Valley outside of AI. Even Big Tech giants like Meta, Apple, Airbnb, and X are exploring the technology. While stablecoins have been around for more than a decade, they have recently attracted the support of Congress. Last week, in what industry boosters said was a watershed moment for the technology, the Senate passed the GENIUS Act, a bill that regulates stablecoins. The legislation is now under consideration in the House. Proponents say the digital assets, which users can send to one another in seconds, can modernize legacy payments infrastructure. There are also signs the market views them as a challenge to incumbent payments giants like Mastercard and Visa. After the Senate passed the GENIUS Act, the stocks of both payment network providers dropped. Mastercard's shares were down 5.6% in the day after the legislation passed. Visa's stock was down 5%. Dhamodharan, the Mastercard executive, said that it's a mistake to think that his company is late to the game. The payments giant acquired the blockchain analytics company CipherTrace in 2021, has partnered with crypto companies to issue a swathe of crypto credit cards, and has been building out what it calls its Multi-Token Network, which Dhamodharan once described as an 'app store' for regulated crypto products. 'We've been busy at work,' he said. As part of Tuesday's announcement, Mastercard said that Fiserv, whose clients include banks, credit unions, and a host of other financial companies, will connect to the Multi-Token Network. This would allow Fiserv's customers to more easily go between bank deposits and stablecoins, Dhamodharan said. 'Stablecoins themselves do not actually make anything happen,' he said. 'For it to come to life, for it to be used by people and get accepted by people, you need rails, you need protections.' This story was originally featured on
