Top Web3 companies including Kraken, Galaxy Digital, Robinhood and Paxos have jointly launched the Global Dollar Network. This is a major statement from these firms to drive the dominance of the US Dollar, through new stablecoin use cases across the board.
Global Dollar Network: The Core Goals
It is not unusual for crypto firms to jointly form an alliance to promote a cause. In the case of the Global Dollar Network, these supporting entities are trying to push for the adoption of stablecoin. Besides these, the firms will help in driving the real world use cases of innovative payment solutions.
The move comes at a time when the clamor around stablecoin regulation is growing across the board. Besides the US, other regions are making concerted efforts to drive defined rules to guide stablecoin issuers in the market.
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