Global Dollar Network, an open network designed to accelerate and reward global stablecoin adoption, announced that Global Dollar (USDG) is now available on the Solana blockchain.
This expansion reportedly brings the benefits of a stablecoin that offers “fast, low-cost, 24/7 transactions and reward-sharing for network participants to the Solana ecosystem.”
Global Dollar Network is also sharing “that alfred, Caliza, Noah, Rain and Sling Money are the most recent partners to join the network.”
Institutions looking to access USDG on Solana can do so via Global Dollar Network partners Anchorage Digital and Kraken “by the end of the week.”
This marks the first step in USDG’s multichain expansion, “providing seamless access to enterprises and retail users.”
The Solana blockchain is said to be known for processing large amounts of transactions at high speeds with “low costs, providing significant benefits for commerce use cases.”
USDG on Solana combines the power of “a trusted, enterprise-grade stablecoin to a fast, low-cost blockchain.”
USDG is reportedly backed by enterprises and this move is expected to boost liquidity, “unlock new use cases, and expand the reach of USDG.”
On behalf of the members of Global Dollar Network, Nathan McCauley, Co-Founder and CEO of Anchorage Digital, commented:
“Stablecoins are transforming the global economy—delivering near-instant, low-cost payments and innovative financial services for anyone, anywhere. But building this future isn’t the work of a single company. It requires leaders and innovators committed to safe and trusted stablecoin adoption. And those shaping this new financial system should share in the value they help create. In Global Dollar Network, our vision is clear: positioning USDG as the leading stablecoin for a global, inclusive economy. USDG going multi-chain by expanding to Solana is a big step towards that vision. USDG’s efficiency, combined with Solana’s fast, scalable tech stack, will create the foundation for many new use cases.”
Lily Liu, President of the Solana Foundation, added:
“The launch of USDG on Solana will accelerate stablecoin adoption for payments and finance at a global scale, and unlock new opportunities for businesses and retail users alike. This announcement expands the accessibility and utility of USDG by enabling it in the Solana ecosystem’s thriving asset economy.”
Alfred, Caliza, Noah, Rain and Sling Money have “joined Global Dollar Network.”
By integrating USDG, these new partners will “create stablecoin use cases, including cross-border payments, card payments, remittances, settlement and treasury management.”
As partners, each will receive up to “100% of the returns generated by assets backing USDG held on their platforms.”
Additional revenue can be generated for “minting and accepting USDG. USDG on Solana will soon be available on the platforms of Global Dollar Network members.”
Global Dollar Network will aim to enhance the stablecoin ecosystem “by ensuring fair economics for network participants and empowering new use cases globally.”
Diego Yanez, Founder and CEO of alfred, commented:
“We are thrilled to play a role in the adoption and growth of USDG on Solana across Latin America. Stablecoins continue to be a strong savings and payments engine across the region and we are excited to be a part in its distribution.”
Ezra Kebrab, Founder and CEO of Caliza, commented:
“The future of finance is borderless, and stablecoins are making it a reality. Joining the USDG network enables Caliza to break down barriers to economic opportunity. Now, businesses worldwide can benefit from access to dollar-denominated financial products that are safe, and regulated.”
Shah Ramezani, CEO and Founder of Noah, added:
“Noah is excited to join the Global Dollar Network, expanding USDG access for our clients. The network fairly incentivizes participants, enabling us to offer the most competitive solutions to our clients. A network is always stronger than a single entity.”
USDG is the stablecoin designed to “accelerate the global adoption of stablecoins.”
USDG is issued by Paxos Digital Singapore, which is said to be “regulated by the Monetary Authority of Singapore (MAS).”
It supports the needs of regulated institutions “that maintain higher standards of operation.”
USDG is said to be backed by “high-quality” liquid assets – “US dollar deposits, short duration US Government securities and other such cash equivalents.”
This ensures USDG maintains “1:1 parity with the US dollar and consumers can redeem their tokens for fiat at all times .”