Robinhood, Kraken, Galaxy Digital, among others, have launched the Global Dollar Network - a collaborative effort to enhance the role of the U.S. dollar in digital finance through stablecoin adoption.
The alliance aims to promote stablecoin use for real-world applications, leveraging collective expertise to drive innovative payment solutions. This initiative comes as regulatory attention around stablecoins intensifies, with more regions establishing guidelines for stablecoin issuers.
Although the Global Dollar Network has a select group of founders, it remains open to new members from various sectors, including exchanges, custodians, and card networks.
With stablecoins on the rise, many firms are pursuing opportunities in this sector to compete with dominant players like Tether (USDT) and Circle (USDC). Paypal, for instance, introduced its own stablecoin, PYUSD, though it hasn’t yet displaced the leading tokens.
Other firms, including Ripple, are advancing their own stablecoins, with Ripple’s RLUSD nearing launch following tests on Ethereum and the XRP Ledger. Similarly, Revolut is exploring a stablecoin launch, reflecting a growing trend among fintechs to enter the stablecoin arena through partnerships and alliances.
Circle, the company behind the popular stablecoin USDC, is expanding its global footprint after securing a key regulatory license in the United Arab Emirates.
Coinbase is stepping deeper into the worlds of blockchain and AI with a new 16-week startup accelerator, created in collaboration with Founders Factory, Animoca Brands, and Fabric Ventures.
Tether’s tokenized gold product, XAUT, has officially confirmed its reserves, revealing backing of over 246,500 ounces of gold — more than 7.7 tons.
Ethereum is once again at a crossroads, facing mounting concerns about whether its core network can keep up with growing demand.