World dollar (USDG)Stablecoin issued by Fintech Paxos regulated, and supported by a consortium of heavy strikers which includes Robinhood, Kraken and Mastercard, is made available to European Union consumers, according to a press release on Tuesday.
The USDG is regulated by European crypto-active markets (Mica)The Finnish Financial Supervisory Authority (Fin-FSA)and the monetary authority of Singapore (Mas)Paxos said in a statement.
The demand for stablescoins supported in US dollars is developing in Europe where the Circle USDC token is the largest regulated choice in Mica. The USDG will have a significant impact as an alternative regulated option, said Paxos.
“The USDG is a fully regulated global USD-stable which is in accordance with mica and now available in the EU, testimony to our commitment to offer global digital assets which are supervised by prudential regulators and also meet the highest consumer protection standards,” said Walter Hessert, head of strategy at Paxos.
The satisfactory requirements under the EU Mica Regulations require that Paxos from Europe, which is regulated by Fin-FSA, holds part of the USDG reserve assets with European banking partners, said Paxos.
