Cryptocurrency Platform Gate Establishes Partnership as First-Ranking USDG World Partner
In a significant move for the cryptocurrency industry, Gate, a major cryptocurrency exchange, has partnered with the Global Dollar Network (GDN) and Paxos. This collaboration enables Gate to integrate USDG, a fully collateralized, U.S. dollar-backed stablecoin issued by Paxos, across multiple blockchain platforms like Ethereum, Solana, and Ink.
USDG, one of the most trusted stablecoins worldwide due to its strong stability, is issued by Paxos Issuance Europe under the supervision of the Finnish Financial Supervisory Authority (FIN-FSA) and in compliance with MiCA, a key regulation framework for cryptocurrencies in EU countries. This partnership advances stablecoin adoption and cryptocurrency payments by providing a regulated, compliant, and institutional-grade digital dollar that supports secure, transparent, and efficient cross-border transactions.
Regulatory Compliance and Trust
The issuance of USDG under strict regulatory frameworks, such as Singapore's Monetary Authority of Singapore (MAS) and Europe's MiCA, ensures institutional trust and alignment with global financial regulations. This regulatory compliance is crucial for broad adoption of stablecoins in mainstream and cross-border payments.
Expanding PayFi Ecosystem
The integration of USDG supports the development of PayFi (payment-finance) applications, bridging traditional finance with blockchain technology. With over 34 million users, Gate's users can now access a transparent and reliable stablecoin payment method for next-generation digital transactions.
Institutional and Network Support
Joining GDN as a Tier 1 partner aligns Gate with other major players like Kraken and Mastercard, fostering a collaborative environment to accelerate adoption and create a sustainable economic model that rewards network participants. This partnership helps standardize and promote stablecoin usage globally.
Multi-Blockchain Availability
Deploying USDG on prominent blockchains improves liquidity, interoperability, and scalability in crypto payments, which is vital for stablecoin adoption in diverse digital finance ecosystems.
In summary, the partnership contributes to expanding the use of stablecoins as a trusted medium of digital exchange, facilitating more efficient, regulated cryptocurrency payments and cross-border financial inclusion worldwide.
Nick Robnett, Head of Crypto Business Development at Paxos, congratulated Gate on its new status in the Global Dollar Network. Dr. Han, founder and CEO of Gate, expects the partnership to be a landmark milestone for global stablecoin adoption and cryptocurrency payments.
USDG is fully backed 1:1 with U.S. Dollars or equivalent liquid assets, making it a reliable choice for users. The stablecoin will play a pivotal role in powering next-generation global payments, trading, and PayFi access.
Gate's partnership with the Global Dollar Network reflects its ongoing commitment to regulatory-compliant innovation and digital asset infrastructure. The exchange stands alongside industry leaders in supporting the accelerated adoption of stablecoins worldwide.
- Gate's partnership with the Global Dollar Network and Paxos allows Gate to integrate USDG, a US dollar-backed stablecoin, across multiple blockchain platforms like Ethereum, Solana, and Ink.
- The issuance of USDG under regulatory frameworks such as MiCA and MAS ensures institutional trust and aligns with global financial regulations.
- The partnership between Gate and the Global Dollar Network advances stablecoin adoption and cryptocurrency payments by providing a regulated, compliant, and institutional-grade digital dollar.
- The integration of USDG supports the development of PayFi applications, bridging traditional finance with blockchain technology.
- Deploying USDG on prominent blockchains improves liquidity, interoperability, and scalability in crypto payments, vital for stablecoin adoption in diverse digital finance ecosystems.
- Nick Robnett, Head of Crypto Business Development at Paxos, congratulated Gate on its new status in the Global Dollar Network, while Dr. Han, founder and CEO of Gate, expects the partnership to be a landmark milestone for global stablecoin adoption and cryptocurrency payments.
- Gate's partnership with the Global Dollar Network reflects its ongoing commitment to regulatory-compliant innovation and digital asset infrastructure, standing alongside industry leaders in supporting the accelerated adoption of stablecoins worldwide.
