OKX Joins Global Dollar Network to Bring USDG to 60 Million Users

On July 15, 2025, OKX announced its official integration into the Global Dollar Network (GDN), joining key financial and crypto players such as Paxos, Robinhood (NASDAQ: HOOD), Kraken, Anchorage Digital, Galaxy Digital, Bullish, Nuvei (NASDAQ: NVEI) and over 30 more . This move enables fee-free, 1:1 conversion to USDG — a Paxos-issued, dollar-pegged stablecoin — for OKX’s 60 million users across 180 countries.

Launched in November 2024, USDG now has around $336 million in circulating supply — fully backed and redeemable across Ethereum and Solana networks . It positions itself as a regulated contender within the $263 billion stablecoin market, currently led by USDT and USDC.

OKX Ventures founder Jeff Ren emphasized the stablecoin’s utility: “. USDG represents stability, trust, and global usability, and it opens the door to everything from seamless cross-border payments to everyday spending, trading, and DeFi participation.”

Regulatory Strength Enhances OKX-GDN Collaboration

USDG is issued by Paxos Digital Singapore and Paxos Issuance Europe, under the supervision of the Monetary Authority of Singapore and Finland’s Financial Supervisory Authority. It complies with the EU’s Markets in Crypto-Assets (MiCA) framework, ensuring robust regulatory standards.

Backed by U.S. dollar deposits and short-term government securities held by DBS Bank, USDG offers a stable foundation for OKX’s global users engaging in trading and decentralized finance.

OKX’s expansive user base and presence in 180 countries amplify the GDN’s reach, accelerating USDG adoption in diverse markets worldwide. In turn, the regulated stablecoin strengthens OKX’s credibility, attracting institutional investors and risk-conscious retail participants.

Walter Hessert, Paxos’ Head of Strategy, stated, “The Global Dollar Network enables safe and trusted stablecoins to power a transparent, 24/7 financial ecosystem, creating a more inclusive global economy.”

Revenue-Sharing Model Drives Mutual Growth

GDN’s revenue-sharing model incentivizes partners like OKX to promote USDG by distributing profits among network participants, fostering collaboration. Supported by partnerships with over 30 GDN members — including Robinhood and Nuvei — OKX’s integration strengthens the consortium’s global footprint and fast-tracks USDG’s adoption in both traditional and decentralized finance sectors.

For OKX, this model opens a new revenue stream aligned with its mission to deliver innovative financial solutions. By offering USDG, OKX positions itself as a leader in regulated digital assets, enhancing its competitive edge within the $263 billion stablecoin market.