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Gate, a major cryptocurrency exchange ecosystem, has shared the details of its latest collaboration in the stablecoin segment. Gate has become a tier-1 partner of Global Dollar Network, an open alliance fostering stablecoin development globally.
Gate joins Paxos-backed Global Dollar Network, adds support for USDG
According to an official statement by Gate, a leading global centralized exchange, it has become a first-tier partner of the Global Dollar Network, an open association for stablecoin development and promotion. As part of the collaboration, Gate will list Paxos’ stablecoin Global Dollar (USDG) on Ethereum (ETH), Solana (SOL) and Ink blockchains.
Fully backed 1:1 with U.S. Dollars or equivalent liquid assets, USDG is issued by Paxos Digital Singapore, which is a Major Payments Institution supervised by the Monetary Authority of Singapore.
It is also issued by Paxos Issuance Europe under the supervision of FIN FSA and in compliance with MiCA, a key regulation framework for cryptocurrencies in EU countries.
Dr. Han, founder and CEO of Gate, expects the partnership to be a landmark milestone for global stablecoin adoption and cryptocurrency payments as such:
This partnership reflects Gate's ongoing commitment to regulatory-compliant innovation and digital asset infrastructure. USDG will play a pivotal role in powering next-generation global payments, trading, and PayFi access. We're excited to deepen our USDG integration across the Gate ecosystem in the coming months.
By integrating USDG, Gate advances its mission to promote financial inclusivity by bridging centralized and decentralized infrastructure. This move also supports Gate's broader strategy to enable seamless cross-border payments, building the infrastructure for a resilient, global PayFi economy.
Fueling next phase of stablecoin adoption
Nick Robnett, Head of Crypto Business Development at Paxos, on behalf of Global Dollar Network, congratulates Gate on its new status and highlights its disruptive role in stablecoin progress worldwide:
We're proud to welcome Gate to Global Dollar Network. Their participation strengthens our collective mission to accelerate the adoption of secure, trusted stablecoins, empowering users worldwide with access to a transparent, always-on financial ecosystem.
Global Dollar Network is among the most influential stablecoin networks worldwide, built on a sustainable economic model. It rewards partners based on their contributions through a cutting-edge architecture that distributes network revenue to members. Unlike traditional stablecoins, Global Dollar Network fosters collaboration and incentivizes widespread adoption.
Stablecoins are evolving rapidly, and it is crucial for ecosystems to keep pace with the growing demand for innovative options. USDG's strong stability makes it one of the most trusted stablecoins worldwide. Gate is proud to stand alongside industry leaders at this pivotal moment, supporting the accelerated adoption of stablecoins worldwide.
As covered by U.Today previously, Gate cryptocurrency exchange released a detailed workplace transparency report covering the key Web3 People Ops trends in the ecosystem.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team