global

Written by: Aiying



Stablecoins are gradually becoming a key part of the global financial system, especially in cross-border payments and decentralized finance, acting as a bridge between fiat currency and crypto assets. In the stablecoin market, Tether (USDT) and USD Coin (USDC) have long dominated, holding nearly 90% of the market share. However, Paxos has recently partnered with several fintech companies, including Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, and Robinhood, to launch a brand new stablecoin network—the Global Dollar Network, which brings a breath of fresh air to the currently highly concentrated stablecoin market. This article will analyze the impact of the network's launch on the Web3 industry and its significance for the global stablecoin market from the perspectives of compliance and innovation.