A consortium of leading cryptocurrency and traditional finance companies, including Robinhood, Galaxy Digital, Kraken, and Paxos, has announced the launch of a new stablecoin network aimed at promoting the global adoption of stablecoins pegged to the United States dollar.

A group of crypto and financial technology companies have introduced a joint stablecoin, the Global Dollar (USDG), to accelerate global stablecoin adoption.

Seven major crypto companies launched USDG, a Singapore-based stablecoin that will share 97% of reserve earnings with network participants while competing against established players Tether and USDC.

Robinhood, Kraken, and Paxos launch the Global Dollar Network with USDG, a compliant stablecoin offering yield incentives for adoption.

A consortium of financial technology and cryptocurrency companies including Robinhood, Kraken and Galaxy Digital on Monday introduced a joint stablecoin pegged to the U.S. dollar. The aim of the newly formed Global Dollar Network is to accelerate usage of stablecoins worldwide and promote an asset that provides proportionate economic benefits to its partners,

A group of major crypto players have jointly launched $USDG, a new stablecoin under the Global Dollar Network that should "revolutionize" the stablecoin ecosystem and set high standards for compliance.