There’s A New Stablecoin In Europe Backed By Kraken and Robinhood

There’s a new stablecoin in the European Union. And it’s backed by some of the most important companies in the world.

What’s happening:

• Paxos’ Global Dollar stablecoin has officially launched in the European Union
  

Why it matters:‍

• This is the first time ever that Paxos’ Global Dollar has been made available in the European Union and was previously only available in Singapore and Asia
  

Going deeper:‍

• Global Dollar is now available on major crypto trading platforms in the European Union including Kraken and Gate and is fully compliant with all digital asset regulation in Europe
  
• Paxos is one of the only digital asset companies in the world that is fully licensed and regulated by both the New York Department of Financial Services and the Monetary Authority of Singapore
  
• Many of the largest crypto and financial technology companies in the world were early investors in the Global Dollar Network, including Robinhood (NASDAQ: HOOD), Galaxy Digital (NASDAQ: GLXY), Anchorage Digital, Kraken and even Mastercard (NYSE: MA)
  

The intrigue:‍

• Stablecoins have also continued to be an emerging theme in politics, with the GENIUS Act just recently passing in the United States Senate to formally regulate stablecoin issuers operating in America

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