Leading financial technology and cryptocurrency companies such as Robinhood, Kraken and Galaxy Digital are launching a new stablecoin network that can be used worldwide. Global dollar network(GDN) announced.

This announced new network will operate on a common stablecoin pegged to the dollar, with the aim of increasing liquidity in the market and accelerating the global adoption of these assets.

Why are stablecoins important?

Stablecoins were developed to protect against volatile price fluctuations of digital tokens. cryptocurrencies whose value is usually linked to currencies such as dollars or euros. Recently, the cryptocurrency market has attracted attention with the appreciation of assets such as Bitcoin, but stablecoins are preferred for their price stability, especially in payment transactions and transfers.

With the increasing interest in cryptocurrencies, it has become a notable trend for companies to invest in stablecoin projects to use such assets more widely around the world.

How will the Global Dollar Network be controlled?

At the heart of the Global Dollar Network is a new stablecoin called USDG. This token, which will be issued by Singapore-based crypto platform Paxos, is being developed in collaboration with other major platforms affiliated with GDN.

The network is managed by leading brands in the crypto industry such as Anchorage Digital, Bullish and Nuvei. is provided by a committee consisting of representatives of the partners.

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