tl;dr
Paxos has launched a new stablecoin called the Global Dollar Network (USDG) in collaboration with exchanges like Bullish, Kraken, and Robinhood. The stablecoin market cap is now close to $180 billion, with Tether (USDT) representing nearly 67% of it. USDG is backed by US dollars, short-term US Treas...
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Paxos has launched a new stablecoin called the Global Dollar Network (USDG) in collaboration with exchanges like Bullish, Kraken, and Robinhood. The stablecoin market cap is now close to $180 billion, with Tether (USDT) representing nearly 67% of it. USDG is backed by US dollars, short-term US Treasury bonds, and other cash equivalents and will comply with stablecoin regulations by the Monetary Authority of Singapore. It aims to incentivize global stablecoin usage and accelerate societal-wide adoption of this technology. Additionally, other stablecoins like RLUSD, UStb, USDS, and a synthetic stablecoin from DWF have also debuted.
On November 5, Paxos announced the Global Dollar Network (USDG) launch. This new network aims to accelerate the global use of stablecoins. The USDG launch brings in backing from several industry giants, including Paxos, Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, and Robinhood. Paxos plans to issue USDG from Singapore and comply with upcoming stablecoin regulations by the Monetary Authority of Singapore. USDG will reward almost all returns to its participants and is open for anyone to join. DBS Bank, the largest bank in Southeast Asia, will be the primary banking partner for USDG, handling cash management and custody.
At present, the stablecoin market cap is close to $180 billion, with Tether (USDT) alone representing nearly 67% of it, amounting to $120 billion. Several other stablecoins have also recently debuted, including RLUSD by Ripple, UStb by Ethena, USDS by Sky, and a synthetic stablecoin from DWF.
More about Masco Corporation
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Masco Corporation is a manufacturer of products for the home improvement and new home construction markets.
Sector: Manufacturing
Industry: Heating Equip, Except Elec & Warm Air; & Plumbing Fixtures
Market Cap: 17,298,754,000
Current Price: 21.32
Change: 1.16
Change (%): 3.76
52-Week Range: 35.75
PE Ratio: 0.105
Volume: 7,882,000,000
EPS: 87.78
ROI: -0.3
Beta: 0.002
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