Global Dollar (USDG) Stablecoin Now Available on Solana Blockchain

Alfred Pay, Caliza, Noah, Rain and Sling Money join Global Dollar Network
USDG Powers Global Dollar Network

NEW YORK , Feb. 25, 2025 /PRNewswire/ -- Today, 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 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 pleased to also share 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 alike. The Solana blockchain is known for processing massive amounts of transactions at high speeds with extremely 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 backed by leading enterprises and this move enhances liquidity, unlocks new use cases, and expands 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 numerous 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 revolutionize 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."

Farooq Malik, CEO of Rain, added, "We are thrilled to be an early network partner of USDG as stablecoin adoption continues to gain momentum for fintech and payments use cases. USDG represents an innovative approach to how stablecoins can be governed and distributed, and provides a novel incentive structure that every participant can benefit from. We look forward to enabling unique and novel use cases driving USDG growth across the various programs we enable."

Mike Hudack, Co-Founder and CEO of Sling Money, added, "Sling Money is excited to join Global Dollar Network and support the adoption of USDG on Solana. Our mission is to simplify global payments, and stablecoins like USDG provide a fast, transparent, and cost-effective way to move money across borders. By integrating with the network, we're enabling seamless access to USDG for our users and helping drive broader adoption of instant, low-cost and default global stablecoin-powered payments."

USDG is the safe and trusted stablecoin designed to accelerate the global adoption of stablecoins. USDG is issued by Paxos Digital Singapore, which is regulated by the Monetary Authority of Singapore (MAS). It supports the needs of regulated institutions that maintain higher standards of operation. USDG is backed by only 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 .

The USDG on Solana smart contract can be viewed here.

About Global Dollar Network
The Global Dollar Network is an open network designed to accelerate and reward global stablecoin adoption. It is powered by Global Dollar (USDG), a US dollar-backed stablecoin issued by Paxos Digital Singapore Pte. that is substantively compliant with the Monetary Authority of Singapore's upcoming stablecoin framework. USDG is a safe and trusted stablecoin designed to support the needs of regulated institutions that maintain higher standards of operation as it is backed by only high-quality liquid assets. Global Dollar Network partners include Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos and Robinhood.

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SOURCE Global Dollar Network