Global Dollar Network (GDN) has announced the release of the Global Dollar (USDG), published by Paxos, on the Ink Blockchain-Layer-2 blockchain released by Kraken.
USDG on Ink provides users and developers with stable assets for trading, providing liquidity and interaction with many different Defi applications.
USDG features that require on-chain environment:
– Fully backed 1:1: Global Dollar (USDG) is a single currency Stablecoin fixed to the US dollar. USDG will redeem from Paxos on a 1:1 basis against the US dollar.
– Trust and Transparency: Paxos publishes monthly preliminary reports for all Paxos-issued Stablecoins, including USDG, to ensure full transparency and reliability of their financial data.
– Powerful integration: USDG is designed for deep integration and maintains Ethereum compatibility for wider accessibility while providing native ink performance. USDG is also available in Solana.
Kraken’s launch of Global Dollar (USDG) in ink blockchain provides stable, transparent, interoperable digital assets designed to support a wide range of on-chain financial activities across multiple blockchain ecosystems.
Image: Global Dollar
