Paxos's USDG Stablecoin Launches on Solana, Fueled by 120% Growth in Stablecoin Supply

The Global Dollar Network has launched its stablecoin, USDG, on the Solana blockchain. This move expands the availability of USDG, which is issued by Paxos Digital Singapore, to one of the fastest growing networks for stablecoins.

Solana has experienced a 120% month-over-month growth in stablecoin supply, indicating a significant increase in the usage and adoption of stablecoins on the platform. USDG's launch on Solana is part of its strategy to go multi-chain, following its initial launch on Ethereum.

USDG is compliant with the Monetary Authority of Singapore's upcoming stablecoin regulatory framework, ensuring it meets high standards of compliance and security. This launch is supported by various institutions including Robinhood, Anchorage Digital, Galaxy, and Kraken, which are offering USDG with yield sharing capabilities. Institutions can access USDG on Solana through the Anchorage Digital platform.

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