Paxos introduces new stablecoin USDG approved in Singapore! 🎉 USDG is backed by a 1:1 dollar reserve and shares earnings with users. However, there is great competition in the market and Paxos’ old stablecoin BUSD lost market share due to regulatory challenges in the US. Paxos is trying to overcome these challenges by strengthening its compliance strategies and new business models. 📉