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International Business Times
International Business Times
Business
Marvie Basilan

Robinhood, Kraken, Galaxy, Other Crypto Firms Launch Global Stablecoin Network

Kraken Galaxy Robinhood Crypto Paxos Anchorage Digital Tether United States Bullish CBDC
The Global Dollar Network has brought together some of the crypto industry's top players. (Credit: Global Dollar Network on X / Video Screenshot)

KEY POINTS

  • Paxos, one of GDN's initial partners, will issue the new stablecoin
  • Kraken said it is 'proud' to be part of the movement toward 'raising the bar on trust'
  • The $USDG's entry comes as Tether's status is in question amid a reported federal probe

Some of the cryptocurrency industry's powerhouse firms have joined hands to launch the Global Dollar Network, an "open network designed to accelerate and reward global stablecoin adoption," marking a significant milestone in the burgeoning stablecoin segment.

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