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By Ian Allison|Edited by Parikshit Mishra
Jul 1, 2025, 6:00 a.m.
- 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).
- MiCA regulation necessitates that Paxos holds a portion of USDG reserve assets with European banking partners.
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.
STORY CONTINUES BELOW
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.
Ian Allison is a senior reporter at CoinDesk, focused on institutional and enterprise adoption of cryptocurrency and blockchain technology. Prior to that, he covered fintech for the International Business Times in London and Newsweek online. He won the State Street Data and Innovation journalist of the year award in 2017, and was runner up the following year. He also earned CoinDesk an honourable mention in the 2020 SABEW Best in Business awards. His November 2022 FTX scoop, which brought down the exchange and its boss Sam Bankman-Fried, won a Polk award, Loeb award and New York Press Club award. Ian graduated from the University of Edinburgh. He holds ETH.
