{"id":31962,"date":"2024-11-05T22:00:13","date_gmt":"2024-11-05T19:00:13","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=31962"},"modified":"2024-11-05T18:38:41","modified_gmt":"2024-11-05T15:38:41","slug":"robinhood-kraken-paxos-launch-dollar-stablecoin-network","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/robinhood-kraken-paxos-launch-dollar-stablecoin-network\/","title":{"rendered":"Robinhood, Kraken, Paxos Launch Dollar Stablecoin Network"},"content":{"rendered":"

Robinhood<\/strong>, Galaxy Digital<\/strong>, Kraken<\/strong>, and Paxos<\/strong> have created a new consortium to strengthen collaboration in the sector. This consortium aims to support the latest stablecoin backed by the U.S. dollar, providing users with more options.<\/p>\n

On November 5, Paxos<\/strong> announced that the new \u201copen network\u201d is designed to accelerate global adoption of stablecoins. Kraken<\/strong>\u2019s co-CEO, Arjun Sethi, emphasized that a lack of competition in the regulated stablecoin market has hindered the industry from realizing its full potential. Sethi stated, \u201cThis new model will transform the sector by bringing more participants into the ecosystem.\u201d<\/p>\n

\n

Might interest you: Could a Trump Victory Energize the Crypto Markets?<\/a><\/em><\/p>\n

\n

Paxos<\/strong> launched the USDG stablecoin on November 1. This network aims to support global adoption of Paxos<\/strong>\u2019 USDG stablecoin, reaching a broader audience. Currently, USDG is only available on the Ethereum blockchain, but Paxos<\/strong> plans to offer the stablecoin on other blockchains as regulations develop. This will allow users to access USDG across various platforms.<\/p>\n

\"Robinhood\"<\/p>\n

Paxos<\/strong> is entering the international market by issuing the USDG stablecoin from Singapore. The firm states that this product complies with the Monetary Authority of Singapore\u2019s stablecoin framework. This alignment ensures users can transact in a secure and regulation-compliant environment.<\/p>\n

Qualified entities will have the opportunity to join the Global Dollar Network by invitation. This initiative allows key players in the industry to come together and form a shared vision.<\/p>\n

The U.S. dollar reserves backing the stablecoin are managed by DBS Bank<\/strong>, Singapore\u2019s largest bank. This structure ensures the security of USDG\u2019s backing mechanism. USDG is supported 1:1 by U.S. dollar reserves, including cash deposits and short-term U.S. government securities, allowing users to easily redeem their tokens for cash. This feature provides users with greater flexibility and security when trading with stablecoins.<\/p>\n

\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Robinhood, Galaxy Digital, Kraken, and Paxos have created a new consortium to strengthen collaboration in the sector. This consortium aims to support the latest stablecoin backed by the U.S. dollar, providing users with more options. On November 5, Paxos announced that the new \u201copen network\u201d is designed to accelerate global adoption of stablecoins. Kraken\u2019s co-CEO,<\/p>\n","protected":false},"author":28,"featured_media":31963,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,2],"tags":[375,493,1564,487,2946,118,9229,119],"class_list":["post-31962","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-news","tag-bullish","tag-galaxy-digital","tag-kraken","tag-paxos","tag-robinhood","tag-tether","tag-usdg","tag-usdt"],"yoast_head":"\nRobinhood, Kraken, Paxos Launch Dollar Stablecoin Network - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/robinhood-kraken-paxos-launch-dollar-stablecoin-network\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Robinhood, Kraken, Paxos Launch Dollar Stablecoin Network - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Robinhood, Galaxy Digital, Kraken, and Paxos have created a new consortium to strengthen collaboration in the sector. This consortium aims to support the latest stablecoin backed by the U.S. dollar, providing users with more options. On November 5, Paxos announced that the new \u201copen network\u201d is designed to accelerate global adoption of stablecoins. Kraken\u2019s co-CEO,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/robinhood-kraken-paxos-launch-dollar-stablecoin-network\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-05T19:00:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-05T15:38:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/11\/Robinhood-1024x576.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Yigit Taha OZTURK\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Yigit Taha OZTURK\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/robinhood-kraken-paxos-launch-dollar-stablecoin-network\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/robinhood-kraken-paxos-launch-dollar-stablecoin-network\/\",\"name\":\"Robinhood, Kraken, Paxos Launch Dollar Stablecoin Network - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/robinhood-kraken-paxos-launch-dollar-stablecoin-network\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/robinhood-kraken-paxos-launch-dollar-stablecoin-network\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/11\/Robinhood.png\",\"datePublished\":\"2024-11-05T19:00:13+00:00\",\"dateModified\":\"2024-11-05T15:38:41+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/5b75ba41894c1164f25378c9022397fc\"},\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/robinhood-kraken-paxos-launch-dollar-stablecoin-network\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/robinhood-kraken-paxos-launch-dollar-stablecoin-network\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/robinhood-kraken-paxos-launch-dollar-stablecoin-network\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/11\/Robinhood.png\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/11\/Robinhood.png\",\"width\":1920,\"height\":1080,\"caption\":\"Robinhood\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/robinhood-kraken-paxos-launch-dollar-stablecoin-network\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Robinhood, Kraken, Paxos Launch Dollar Stablecoin Network\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/5b75ba41894c1164f25378c9022397fc\",\"name\":\"Yigit Taha OZTURK\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3c58488c3e042b9f982e35ddee6f6e94f7d62613e8b36ebd312676655fab9908?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3c58488c3e042b9f982e35ddee6f6e94f7d62613e8b36ebd312676655fab9908?s=96&d=mm&r=g\",\"caption\":\"Yigit Taha OZTURK\"},\"url\":\"https:\/\/coinengineer.net\/blog\/author\/ceyigitt\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Robinhood, Kraken, Paxos Launch Dollar Stablecoin Network - Coin Engineer","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/robinhood-kraken-paxos-launch-dollar-stablecoin-network\/","og_locale":"en_US","og_type":"article","og_title":"Robinhood, Kraken, Paxos Launch Dollar Stablecoin Network - Coin Engineer","og_description":"Robinhood, Galaxy Digital, Kraken, and Paxos have created a new consortium to strengthen collaboration in the sector. This consortium aims to support the latest stablecoin backed by the U.S. dollar, providing users with more options. On November 5, Paxos announced that the new \u201copen network\u201d is designed to accelerate global adoption of stablecoins. Kraken\u2019s co-CEO,","og_url":"https:\/\/coinengineer.net\/blog\/robinhood-kraken-paxos-launch-dollar-stablecoin-network\/","og_site_name":"Coin Engineer","article_published_time":"2024-11-05T19:00:13+00:00","article_modified_time":"2024-11-05T15:38:41+00:00","og_image":[{"width":1024,"height":576,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/11\/Robinhood-1024x576.png","type":"image\/png"}],"author":"Yigit Taha OZTURK","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Yigit Taha OZTURK","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/robinhood-kraken-paxos-launch-dollar-stablecoin-network\/","url":"https:\/\/coinengineer.net\/blog\/robinhood-kraken-paxos-launch-dollar-stablecoin-network\/","name":"Robinhood, Kraken, Paxos Launch Dollar Stablecoin Network - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/robinhood-kraken-paxos-launch-dollar-stablecoin-network\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/robinhood-kraken-paxos-launch-dollar-stablecoin-network\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/11\/Robinhood.png","datePublished":"2024-11-05T19:00:13+00:00","dateModified":"2024-11-05T15:38:41+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/5b75ba41894c1164f25378c9022397fc"},"breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/robinhood-kraken-paxos-launch-dollar-stablecoin-network\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/robinhood-kraken-paxos-launch-dollar-stablecoin-network\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/robinhood-kraken-paxos-launch-dollar-stablecoin-network\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/11\/Robinhood.png","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/11\/Robinhood.png","width":1920,"height":1080,"caption":"Robinhood"},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/robinhood-kraken-paxos-launch-dollar-stablecoin-network\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"Robinhood, Kraken, Paxos Launch Dollar Stablecoin Network"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/5b75ba41894c1164f25378c9022397fc","name":"Yigit Taha OZTURK","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3c58488c3e042b9f982e35ddee6f6e94f7d62613e8b36ebd312676655fab9908?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3c58488c3e042b9f982e35ddee6f6e94f7d62613e8b36ebd312676655fab9908?s=96&d=mm&r=g","caption":"Yigit Taha OZTURK"},"url":"https:\/\/coinengineer.net\/blog\/author\/ceyigitt\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/31962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=31962"}],"version-history":[{"count":2,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/31962\/revisions"}],"predecessor-version":[{"id":31965,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/31962\/revisions\/31965"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/31963"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=31962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=31962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=31962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}