Global Dollar Network
Global Dollar Network is an open partner network that promotes adoption of USDG, a 1:1 US dollar-backed stablecoin issued by Paxos, by sharing up to 100% of reserve-asset returns with 100+ enterprise partners across exchanges, payments, DeFi, and custody.
- Company typePrivate
- Founded2024
- HeadquartersSingapore, Singapore
- Headcount251–500
- GTM typeB2B
- OfferingSoftware
What Global Dollar Network does
Global Dollar Network is an open enterprise network, launched in November 2024, that promotes adoption of USDG (Global Dollar), a 1:1 US dollar-backed stablecoin issued by Paxos Digital Singapore under Monetary Authority of Singapore supervision and by Paxos Issuance Europe under Finland's FIN-FSA in compliance with MiCA. The network's core economic mechanism shares up to 100% of returns generated by USDG reserve assets back to partners based on holding, minting, and acceptance activity, inverting the conventional issuer-keep-revenue model and aligning incentives across the ecosystem. As of December 2025, the network encompassed 100+ partners spanning cryptocurrency exchanges (OKX, Kraken, Bullish, Robinhood, Gate, KuCoin, BitMart), payment providers (Worldpay, Nuvei, Modern Treasury), DeFi protocols (Aave V4, Marinade, Kamino, Jupiter), custodians (Anchorage Digital, Zodia, Rakkar), and card networks (Mastercard).
The underlying platform deploys USDG across multiple blockchains including Solana, Ethereum, Ink, and X Layer, with USDG0 providing cross-chain bridging via LayerZero interoperability. Developer-facing infrastructure includes comprehensive documentation at docs.paxos.com, a permissionless testnet faucet, and an open-source GitHub repository. USDG is fully backed by US dollar deposits, short-duration US government securities, and cash equivalents, with Paxos publishing monthly reserve reports. The network's go-to-market is exclusively partnership-driven, targeting exchanges, fintechs, payment providers, custodians, DeFi protocols, and card networks through direct enterprise onboarding rather than end-user marketing.
USDG crossed $1 billion in market capitalization in December 2025 after growing more than 300% since January 2025, with active monthly users increasing 10x in the preceding quarter. Customer segments are diversified horizontally across exchange trading, payments, payroll, DeFi liquidity, custody, and consumer applications, with reach extending to 120M+ customers through OKX alone and operations spanning Singapore, the US, the EU (450 million consumers across 30 countries), Mexico, Turkey, the Philippines, and the UAE. Global Dollar Network is operated by Paxos as an open network initiative rather than a separately incorporated entity, with a network advisory committee providing partner governance input.
Global Dollar Network firmographics
Firmographics- Name
- Global Dollar Network
- Legal name
- Paxos Digital Singapore Pte. Ltd.
- Website
- https://globaldollar.com
- Company type
- Private
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Global Dollar Network is an open partner network that promotes adoption of USDG, a 1:1 US dollar-backed stablecoin issued by Paxos, by sharing up to 100% of reserve-asset returns with 100+ enterprise partners across exchanges, payments, DeFi, and custody.
- Ownership category
- akta.pro rank
Global Dollar Network industry classification
Industry- Product category
- Stablecoin Network
- NAICS
- Securities and Commodity Contracts Intermediation and Brokerage (5231)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Stablecoin Issuers (Fiat-Backed) (FSADADAA)
- akta.pro secondary industries
- Stablecoins & On-Chain Money (fiat-backed, crypto-backed, algorithmic; issuance/redemption) (FSAPAEAB), On-Chain Payments & Stablecoin Infrastructure (Issuance, Rails, Treasury) (FSAGAMAD), Mint/Redeem, Issuance APIs & Treasury Operations Platforms (FSADADAE), Stablecoin Payment Rails & Settlement Networks (Issuer-Led) (FSADADAF)
Keywords
Where Global Dollar Network is headquartered
LocationHeadquarters
- HQ city
- Singapore
- HQ country
- Singapore
- HQ region
- Asia
Markets served
Global Dollar Network business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure
Revenue model
- Network Participation Rewards: Partners earn rewards based on their activity in driving USDG adoption including: (1) Hold - rewards on USDG balances similar to high interest savings; (2) Mint - recurring revenue from increasing total USDG in circulation; (3) Accept - incentives for inbound USDG deposits and payments. Partners can receive up to 100% of returns generated by assets backing USDG held on their platform.
- USDG Issuance: Revenue from new USDG minting activity. Partners earn recurring revenue for increasing the total USDG in circulation through their platforms.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Partner Revenue Sharing - Up to 100% of returns |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels5 records
Global Dollar Network product offering
Product offeringCore offering
Global Dollar Network is an open partner network that drives adoption of USDG, a US dollar-backed stablecoin issued by Paxos. The network distributes USDG through 100+ enterprise partners across exchanges, payment providers, fintechs, DeFi protocols, and custodians, and passes up to 100% of the returns generated by USDG reserve assets back to partners that hold, mint, or accept the stablecoin on their platforms.
Product overview
Global Dollar Network is a platform powered by USDG (Global Dollar), a 1:1 US dollar-backed stablecoin issued by Paxos. The ecosystem consists of the Global Dollar Network (an open partner network for monetizing stablecoin activity), USDG (the core stablecoin product), USDG0 (a cross-chain bridged solution via LayerZero), and developer tools (documentation and testnet faucet). Network partners can earn revenue through holding, minting, and accepting USDG. USDG is deployed on Solana, Ethereum, Ink, and X Layer blockchains.
Differentiator
Problem solved
Functional benefit
Brands
- USDG: Global Dollar (USDG) is a single-currency stablecoin pegged to the US dollar, fully backed 1:1 and issued by Paxos Digital Singapore and Paxos Issuance Europe.
Products and services
- USDG (Global Dollar) USDG is a single-currency stablecoin pegged 1:1 to the US dollar, fully backed by US dollar deposits, short-duration US Government securities, and cash equivalents. Issued by Paxos Digital Singapore under MAS supervision and Paxos Issuance Europe under FIN-FSA/MiCA. Used by enterprises and consumers for trading, payments, treasury, and DeFi.
- Global Dollar Network An open partner network that enables enterprises to earn up to 100% of returns generated by assets backing USDG held on their platform, plus additional revenue from minting and acceptance activity. Includes a partner directory, ecosystem support, and liquidity from 100+ enterprise members.
- USDG0 USDG0 is a cross-chain bridged version of USDG built by Paxos Labs and LayerZero, extending USDG's reach to additional blockchain networks and enabling cross-chain liquidity and interoperability.
Quantifiable outcome
- Partners can earn up to 100% of returns generated by USDG backing assets
- +3 more outcomes
Companies that use Global Dollar Network
Customer profileNamed customers11 records
Segments5 records
Ideal customer profiles4 records
Global Dollar Network technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature5 records
Global Dollar Network partnerships and signals
Strategic signalPartnerships
31 partnerships are on record, tiered standard partner, core partner and founding partner.
- Orbistandard partnerOrbi is Mexican fintech bringing digital dollars to Mexico. Products include peso-to-USDG on-ramp, OrbiCard Mastercard, and Orbi Boost rewards. Users allocated over $1M into USDG-based rewards.
- Marinadestandard partnerMarinade Finance launched 'Stake SOL, earn USDG' product where staking rewards automatically convert to USDG. Product achieved 249,000+ SOL TVL. Marinade is one of Solana's largest liquid staking protocols with $2B+ TVL.
- Meowstandard partnerMeow, one of largest US business banking fintechs with $1B+ annualized stablecoin volume, added USDG to platform. Customers can send/receive USDG with zero fees and instant settlement.
- Bitpandacore partnerBitpanda joined in February 2026 to launch USDG trading markets, deposits, and withdrawals. Makes MiCA-compliant USDG available to Bitpanda's 7M+ European users. Bitpanda is a leading European broker with 650+ crypto assets.
- Bitpandacore partnerBitpanda provides USDG trading, deposits, and withdrawals to European users through its regulated platform under MiCA compliance.
- Tokustandard partnerToku uses USDG for global payroll infrastructure. Employees receive stablecoin salaries directly to wallets with compliance across 100+ countries. Toku integrates with HR systems like Gusto and ADP.
- Modern Treasurystandard partnerModern Treasury partnered with Paxos to integrate stablecoin and settlement technology into its platform. Enables businesses to facilitate stablecoin payments with real-time settlement and compliance within unified payment infrastructure.
- Alpacastandard partnerAlpaca joined enabling clients to access USDG on Solana for deposits and withdrawals outside of Ethereum. Uses USDG as preferred settlement currency for tokenized equities trading on platform.
- OKXcore partnerOKX joined as core partner bringing 60 million global customers. Integrated USDG across earn programs, zero-fee conversion, unified order book, and OKX Card in Europe. OKX supports MiCA-compliant USDG for EU customers. Hundreds of millions in USDG held on platform.
- Aavecore partnerAave V4 integrated USDG as native asset on its modular hub-and-spoke DeFi architecture. Aave committed that rewards from USDG activity will be invested back into ecosystem growth rather than siphoned as protocol revenue.
- Gatestandard partnerGate is a global cryptocurrency exchange offering spot, futures, wealth-products, NFTs, and Web3 services across 3,500+ digital assets.
- KuCoinstandard partnerKuCoin is a global cryptocurrency exchange platform allowing users to trade, buy, sell spot and derivatives, with P2P and OTC services.
- Lunostandard partnerLuno is a global crypto exchange serving 15M+ customers across 40+ countries with spot trading, OTC desk, staking, and wallet services.
- Mastercardstandard partnerMastercard partners with GDN to enable stablecoin-powered Visa cards across multiple blockchains for seamless payments at 150M+ merchants globally.
- LayerZerostandard partnerLayerZero provides interoperability standard powering over 70% of global stablecoin supply. Trusted by PayPal USD, Ethena, and others for cross-chain compatibility.
- Wintermutestandard partnerWintermute is a global algorithmic trading firm with $10B+ average daily trading volume providing liquidity across 60+ exchanges.
- Zodia Custodystandard partnerZodia Custody is an institutional-grade digital asset custodian backed by Standard Chartered and Northern Trust.
- BiLirastandard partnerBiLira is Turkish fintech offering TRY-pegged stablecoin, high-liquidity crypto exchange, and Lira on/off-ramp services.
- Aleostandard partnerAleo is a Layer-1 privacy-first blockchain using zero-knowledge cryptography for private smart contracts.
- Ethenastandard partnerEthena is a synthetic dollar protocol providing USDe and sUSDe dollar savings asset built on Ethereum.
- August Digitalstandard partnerAugust Digital is an institutional-grade Web3 platform providing unified cross-collateralized margin accounts for on-chain trading and DeFi.
- Kaminostandard partnerKamino is a Solana-based DeFi protocol offering lending, borrowing, and concentrated liquidity products.
- Pendlestandard partnerPendle is the world's largest crypto yield trading platform enabling yield separation and trading.
- Worldpaycore partnerWorldpay joined with $2.2 trillion in yearly transaction volume across 146 countries. Merchants can settle with USDG on Solana for faster, cost-efficient transactions. Worldpay bridges traditional finance and blockchain services.
- Anchorage Digitalfounding partnerAnchorage Digital is a founding partner of Global Dollar Network. As a federally chartered digital asset platform for institutions, Anchorage provides custody, trading, staking, settlement and compliance services. Nathan McCauley, Co-Founder and CEO of Anchorage Digital, serves as network advisory committee member.
- Bullishfounding partnerBullish is a founding partner and regulated institutional-grade cryptocurrency exchange offering spot, derivatives, and custody services. Bullish uses USDG for corporate treasury and received IPO proceeds in stablecoins.
- Galaxy Digitalfounding partnerGalaxy Digital is a founding partner and digital asset-focused financial services firm offering trading, asset management, investment banking and mining solutions. Serves as liquidity provider in the network.
- Krakenfounding partnerKraken is a founding partner and one of world's longest-standing crypto platforms, trusted by 13+ million traders. Offers USDG earn programs up to 5% annually, Kraken+ premium service, and Krak global payments app.
- Nuveifounding partnerNuvei is a founding partner and enterprise-ready payments technology platform enabling global merchants to accept diverse payment methods. Processes payments through stablecoin infrastructure.
- Paxosfounding partnerPaxos is the founding partner and issuer of USDG. Paxos Digital Singapore issues USDG supervised by MAS; Paxos Issuance Europe issues USDG under FIN-FSA and MiCA compliance. Paxos has $180B+ in tokenization activity since 2018.
- Robinhoodfounding partnerRobinhood is a founding partner offering commission-free investing in stocks, ETFs, options, and crypto with cash management. Provides USDG access to Robinhood's retail user base.
Scale indicators15 records
Recent moves16 records
Expansion highlights5 records
Global Dollar Network competitors and assessment
Company assessmentDirect peers
- PayPal / Paxos (PYUSD): PYUSD is issued by Paxos Trust Company under OCC oversight and distributed via PayPal, Venmo, and partners. Shares the same underlying issuer family (Paxos) as USDG while competing for the same regulated stablecoin use cases.
- Ripple (RLUSD): Issuer of RLUSD, an enterprise-focused USD stablecoin pursuing institutional distribution and payment-rail integrations. Competes with USDG for the same regulated, payment-oriented stablecoin segment.
- Circle (USDC): Issuer of USDC, the leading regulated US dollar stablecoin. Competes head-on with USDG on regulated distribution, exchange listings (Coinbase-centric), DeFi integrations, and enterprise payments rails.
- First Digital Labs (FDUSD): Issuer of FDUSD, a fiat-backed USD stablecoin that has scaled rapidly via exchange listings (notably Binance). Competes with USDG for exchange-driven adoption and DeFi liquidity.
- Tether (USDT): Issuer of USDT, the largest fiat-backed stablecoin globally. Directly competes with USDG in trading pairs, exchange listings, DeFi integrations, and cross-border payments, and benefits from incumbent network effects that USDG must overcome.
Broad incumbents
- Paxos: Paxos is the underlying issuer of USDG and a broader regulated stablecoin and tokenization infrastructure provider ($180B+ in tokenization activity). Functions as parent/issuer to GDN while also competing with it as an issuer of PYUSD (for PayPal) and USDP.
Emerging players
- World Liberty Financial (USD1): Issuer of USD1, a politically affiliated USD stablecoin that posted the strongest weekly inflow gains among major stablecoins (~$281M as of May 2026). Competes with USDG for institutional treasury and DeFi-native reserves.
- Ethena (USDe): Ethena issues USDe, a synthetic dollar protocol offering yield via delta-neutral hedging. Competes with USDG for DeFi-native yield demand and is increasingly integrated across the same Solana and Ethereum venues as USDG.
- Ondo Finance (USDY): Issuer of USDY and other tokenized yield products backed by US Treasuries. Competes with USDG for the institutional/DeFi 'yield-bearing dollar' segment and channels reserve returns to token holders.
- MakerDAO / Sky (DAI / sDAI): Issuer of DAI and sDAI, a crypto-backed/savings-rate stablecoin ecosystem. Competes with USDG for DeFi liquidity, savings demand, and cross-chain adoption, particularly on Ethereum and Layer 2s.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Global Dollar Network social profiles
Digital presenceGlobal Dollar Network compliance and trust
Trust signalCompliance5 records
Global Dollar Network financial estimates
Financial estimateRevenue estimate
Valuation estimate
Global Dollar Network leadership team
Management profileNumber of profiles
Global Dollar Network funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Global Dollar Network M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Global Dollar Network
What does Global Dollar Network do?
Global Dollar Network is an open partner network that drives adoption of USDG, a US dollar-backed stablecoin issued by Paxos. The network distributes USDG through 100+ enterprise partners across exchanges, payment providers, fintechs, DeFi protocols, and custodians, and passes up to 100% of the returns generated by USDG reserve assets back to partners that hold, mint, or accept the stablecoin on their platforms.
Is Global Dollar Network a public or private company?
Global Dollar Network is a private company. It is classified as corporate owned and is currently operating.
When was Global Dollar Network founded?
Global Dollar Network was founded in 2024. It employs 251 to 500 people.
Where is Global Dollar Network based?
Global Dollar Network is headquartered in Singapore, Singapore, in the Asia region.
How does Global Dollar Network make money?
Two revenue lines are on record. Network Participation Rewards are the primary driver. The others are USDG Issuance.
Who are Global Dollar Network's main competitors?
Direct peers on record are PayPal / Paxos (PYUSD), Ripple (RLUSD), Circle (USDC), First Digital Labs (FDUSD) and Tether (USDT). Paxos is listed as a broad incumbent. Emerging players are World Liberty Financial (USD1), Ethena (USDe), Ondo Finance (USDY) and MakerDAO / Sky (DAI / sDAI).
Does Global Dollar Network have an API?
Yes. USDG is a regulated U.S. dollar-backed stablecoin issued by Paxos and designed for blockchain-native applications. Developers can integrate USDG into smart contracts, wallets, payments and DeFi on supported blockchains. The developer docs explain how to integrate USDG into projects. The USDG token is deployed on Solana, Ethereum, Ink and X Layer with smart contract addresses provided. A testnet faucet is available for all Paxos-issued stablecoins. Developer documentation is at docs.paxos.com/stablecoin/usdg.
What industry is Global Dollar Network in?
Global Dollar Network's product category is Stablecoin Network. Its primary akta.pro industry code is FSADADAA, Stablecoin Issuers (Fiat-Backed), with a secondary code of FSAPAEAB, Stablecoins & On-Chain Money (fiat-backed, crypto-backed, algorithmic; issuance/redemption). Its NAICS code is 5231 and its SIC code is 6200.