Crypto Giants Launch USDG Stablecoin to Boost Adoption

Seven major crypto companies, including Anchorage Digital, Robinhood, and Galaxy Digital, have announced the launch of the Global Dollar (USDG) stablecoin. Backed by the U.S. dollar and endorsed by the Monetary Authority of Singapore, USDG aims to simplify the use of stablecoins and increase global adoption.

Issued as an ERC-20 token on Ethereum, USDG plans to reward network partners with nearly all revenue generated by the reserve assets.