Paxos-Backed USDG Builds Global Presence Through Revenue-Sharing Model

A new wave of companies is joining the Global Dollar Network (GDN), a stablecoin initiative anchored by Paxos and backed by firms like Robinhood, Galaxy, and Kraken.

With 19 additional members now onboard, including platforms from Turkey, Southeast Asia, and the Middle East, the alliance is quietly building a global footprint for its U.S. dollar-pegged token, USDG.

Unlike other stablecoins dominated by centralized issuers, USDG follows a revenue-sharing model. Instead of concentrating profits, GDN redistributes earnings from reserve yields to its partners—exchanges, custodians, and wallet providers—who help drive adoption. Activities like minting and payment processing are rewarded monthly using a proprietary attribution system.

Though still small compared to USDT and USDC, USDG has reached $285 million in circulation and is compliant with Singapore’s upcoming stablecoin laws. The network expects exponential growth as more jurisdictions clarify their regulatory stance. U.S. legislation remains uncertain after the failure of the GENIUS Act, but hopes for a bipartisan breakthrough remain.

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While household names like Visa have yet to sign on, insiders hint that major players are circling, waiting for the right moment. GDN’s backers say its model offers a compelling alternative to both traditional stablecoins and emerging yield-bearing tokens like USDe and BUIDL.

With more than 25 companies now involved and access to over 40 million users through partners, GDN sees itself not just as a stablecoin issuer—but as a decentralized financial rails provider in the making.