Key Points
- GDN expands to 25+ members, supporting over 42 million USDG users globally.
- USDG runs on Solana with low fees and compliance under the Monetary Authority of Singapore.
- Deutsche Bank and Standard Chartered signal strong growth ahead for stablecoins.
The Global Dollar Network (GDN) is quickly emerging as one of the most influential stablecoin alliances worldwide. It operates as an open, revenue-sharing network uniting major exchanges, fintech firms, banks, and crypto platforms. Notably, GDN was founded by a coalition of leading firms, including Paxos, Kraken, Galaxy Digital, and Robinhood. Moreover, USDG, the network’s native stablecoin, is issued by Paxos Digital Singapore and complies with the Monetary Authority of Singapore’s (MAS) upcoming stablecoin framework.
At the heart of GDN is USDG, a U.S. dollar-backed stablecoin that runs on the Solana blockchain. Unlike legacy options such as Tether (USDT) or USDC, USDG offers ultra-low transaction fees, faster settlement, and built-in regulatory alignment.
USDG’s Latest Developments
As of May 2025, GDN has expanded to 25+ member companies, now supporting over 42 million users globally. The newest additions include BitMart, a major crypto exchange, and Arculus, a wallet provider. They join founding members like Kraken, Robinhood, Galaxy Digital, Paxos, and Anchorage Digital.
Noting GDN’s growth signals real-world, scalable adoption of USDG. Mark Greenberg, Head of Consumer at Kraken said
“Stablecoins are bridging traditional finance and crypto,” noting GDN’s growth signals real-world, scalable adoption of USDG.
Importantly, GDN’s revenue-sharing model is a core differentiator. Partners are compensated based on their contribution to USDG’s adoption, creating an ecosystem based on being more equitable and scalable than older stablecoin models.
Members wanted to join GDN because legacy stablecoin models weren’t working, said Walter Hessert, Head of Strategy at Paxos. “Together, we’re building a financial system that’s more accessible, efficient and inclusive for all.””
Stablecoins to go Global: Deutsche Bank
Stablecoins are poised to go mainstream in 2025. According to Deutsche Bank, they now “power over two-thirds of crypto trading.” Meanwhile, U.S. regulation is evolving, and although the Genius Act remains stalled, negotiations are ongoing. If passed, Standard Chartered expects it could lead to a 10x surge in stablecoin supply.
The broader stablecoin market has already grown 50x in market cap over the past five years. Additionally, transaction volumes have overtaken traditional networks like Visa and Mastercard. This reflects increasing demand for regulated, scalable stablecoins in cross-border payments, remittances, and treasury operations.
Looking ahead, GDN’s multi-chain roadmap could push USDG even further. With giants like Visa reportedly in talks to join, GDN is positioning itself as a global liquidity hub in the trillion-dollar stablecoin race.
