USDG from Paxos is Now Available on Solana, What are the Future Prospects?

Jakarta, Pintu News—Paxos Digital Singapore has announced the expansion of its Global Dollar (USDG) stable currency to the Solana SOL->Current SOL PriceRp 0Market Cap-Trading Volume-Circulating Supply- blockchain, marking a major step in its multichain strategy.

Since its launch on November 1, 2024, USDG has shown significant growth and now aims to expand its reach in the global market.

Check out the full news here!

USDG Expansion to Solana

Paxos Digital Singapore Pte. Ltd, which is regulated by the Monetary Authority of Singapore (MAS), has selected Solana (SOL) as its latest platform for USDG offerings. The decision was made based on Solana’s fast technology performance and low transaction costs, which are considered ideal for large-scale financial transactions.

USDG, which was previously only available on Ethereum, is now accessible through platforms such as Anchorage Digital and Kraken. This expansion is expected to accelerate the adoption of USDG as a global means of payment and financing.

According to Lily Liu, President of the Solana Foundation, the presence of USDG on Solana will open up new opportunities for businesses and retail users, strengthening Solana’s position as a major player in the stable currency market.

Read also: Paolo Ardoino: “Changes to the Stablecoin Bill Could Affect Tether!”

Strategic Partnerships and Integration

To expand the use of USDG, Paxos has collaborated with several strategic partners. Payment infrastructure company Alfred, Brazilian fintech Caliza, and cross-border payment provider Noah are some partners that have joined the Global Dollar Network.

These partners’ integration of USDG will support various use cases, such as card payments, cross-border transfers, remittances, and cash management. In addition, crypto platforms such as Rain and Sling Money have also integrated USDG.

This collaboration not only increases USDG’s liquidity and accessibility but also strengthens the Solana ecosystem as an enabling environment for financial innovation.

Read also: Matt Hougan’s Prediction: “Bitcoin (BTC) will recover, while Memecoin slumps!”

Stable Currency Market Potential and Growth

The stable currency market has experienced significant growth, driven by regulatory changes and increased adoption. While Tether USDT->Current USDT PriceRp 0Market Cap-Trading Volume-Circulating Supply- and Circle’s USD Coin USDC->Current USDC PriceRp 0Market Cap-Trading Volume-Circulating Supply- still dominate the market, USDG shows potential as a competitor with expansion targets in Latin America, the Middle East, and Africa.

Paxos’coin stable products such as Pax Dollar (USDP) and Pax Gold PAXG->Current PAXG PriceRp 0Market Cap-Trading Volume-Circulating Supply-, as well as the interest-bearing PayPal USD (PYUSD) and Lift Dollar, further strengthen their portfolio. Paxos seeks to capitalize on this growth potential by providing diversified and integrated solutions that support global financial needs.

With USDG now on Solana, Paxos expands its reach and functionality, offering more options for users and institutions worldwide.

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Reference

• Crypto News. Paxos Stablecoin USDG Expands to Solana. Accessed on February 26, 2025
• Featured Image: The Block