December 4, 2025 – The Global Dollar Network (GDN), a consortium-backed initiative to build an open, enterprise-grade digital dollar, announced today that its flagship USD-backed stablecoin, Global Dollar (USDG), has exceeded $1 billion in market capitalization while the network has grown to more than 100 participating institutions worldwide.

The milestone comes just months after the network’s public launch and marks one of the fastest ramps to billion-dollar scale for a regulated stablecoin outside the two dominant incumbents.

Key highlights from the announcement:

• Active monthly users of USDG grew 10× in the past quarter.
• More than 90% of all interest and reward earnings generated on USDG holdings were distributed directly to network partners.
• Partners earn revenue by minting, holding, or accepting USDG — creating aligned incentives across the ecosystem.

Wave of new partners Recent additions span exchanges, market makers, DeFi protocols, infrastructure providers, and payment companies, including:

• Exchanges & liquidity: Archax, B2C2, Bitnet, Gate.io, Gemini, KuCoin, OKX, SwissBorg, Wintermute
• DeFi & blockchain: Aleo, Marinade, ONre, Solstice Labs
• Payments & fintech: Alpaca, AMINA Bank, Orbi Payments, Toku, Yellow Card
• Infrastructure: Tangem, Transak, WalletConnect

Real-world use cases gaining traction

USDG is now being used across multiple verticals:

• Earn programs: AMINA Bank, Gate, Kraken, Luno, and OKX pay weekly yields on USDG deposits.
• Trading & collateral: OKX added USDG as margin collateral; extensive trading pairs launched on KuCoin, Bilira, and SwissBorg.
• Corporate treasury: Bullish received a portion of its recent IPO proceeds in stablecoins, with USDG among the chosen assets.
• Tokenized asset settlement: Alpaca and Kraken use USDG as the preferred settlement currency for tokenized equities.
• DeFi integration: USDG is live as a core stable asset on Kamino, JupLend, Loopscale, Marinade, and others; Paxos Labs launched USDG0 to extend interoperability.
• Global payments: Kraken enables instant USDG transfers to 160+ countries; OKX Pay and partners like Orbi (Mexico card spend) and Toku (payroll) are bringing USDG to consumer and B2B payments.

Deeper liquidity has been supported by market makers Keyrock, B2C2, and JST Digital, while OKX introduced a unified USD order book that pools USDG with other dollar assets for tighter spreads.

Read More:
https://globaldollar.com/newsroom/global-dollar-network-grows-to-more-than-100-partners-and-usdg-stablecoin-crosses-1-billion-in-market-cap?utm_source=organicsocial&utm_medium=gdnx