OKX mobile application. Source: mino21 - stock.adobe.com

Key Takeaways:

OKX has joined the Global Dollar Network to support Paxos’ USDG stablecoin, expanding access to its 60 million users worldwide.
USDG, launched in late 2024, is backed by U.S. dollar reserves and regulated by Singapore and the EU under MiCA.
Stablecoin usage is surging globally, driven by both retail and institutional demand, with growing interest in regulated digital dollar alternatives.

OKX has joined the Global Dollar Network to support Paxos’ USDG, a regulated stablecoin backed by U.S. dollar deposits and short-term government securities.

With this move, OKX’s 60 million users worldwide can now trade and transfer USDG, expanding the platform’s stablecoin offerings beyond Tether (USDT) and USD Coin (USDC).

Stable. Scalable. Onchain.

OKX just joined one of the fastest-growing stablecoin ecosystem: the Global Dollar Network.

With USDG integration, we’re unlocking trusted stablecoin access and real world utility to 60M+ users across 180+ countries.

Learn more ➡️… pic.twitter.com/7UhqueUiiI
— OKX (@okx) July 14, 2025

Launched in November 2024, USDG is regulated by the Monetary Authority of Singapore and has recently expanded into the European Union under MiCA.

Its circulating supply has reached approximately $356 million.

The Global Dollar Network also includes major players like Robinhood, Kraken, DBS, and Standard Chartered.

While USDG remains smaller than leading stablecoins, Paxos aims to boost adoption through strong regulatory alignment.

Stablecoins have grown into a $250 billion market, with usage ranging from settlements in developed markets to value preservation in emerging economies.

In some regions, they accounted for up to 52% of crypto transactions.

Institutional interest is rising, especially as banks seek more efficient cross-border payment tools.

In the U.S., the Senate’s GENIUS Act has further spurred momentum, with tech giants like Apple and X reportedly exploring stablecoin integration.