The Global Dollar Network has launched to promote the adoption of U.S. Stablecoins on Web3
Robinhood, #Kraken , #Galaxy Digital and others have launched the Global Dollar Network, a collaborative initiative aimed at increasing the role of the U. S. dollar in digital finance through the adoption of stablecoins.
The partnership aims to promote the use of stablecoins in the real world by bringing together specialists to develop innovative payment solutions. The initiative comes against a backdrop of increased regulation of stable coins and a growing number of jurisdictions setting rules for stable coin issuers.
Global Dollar Network consists of a select group of founders, but is also open to new members from a variety of sectors, including exchanges, custodians and card networks.
With the growing popularity of stable coins, many companies are exploring opportunities in this area to compete with dominant players such as Tether (USDT) and Circle (USDC). For example, #Paypal has launched its own stablecoin, PYUSD, but has yet to displace the leading tokens.
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