Paxos is the issuer of the PayPal PYUSD and its own stablecoins, including the new Singapore regulated ‘global dollar’. Today it launched the Global Dollar Network (GDN) which incentivizes partners and distributors by sharing most of the stablecoin’s revenues with them. Founding partners include Robinhood, Nuvei, Kraken, Anchorage Digital, Galaxy, Bullish, and Paxos itself.
In July we published a feature on the M^0 stablecoin network, highlighting its plans to share revenues with distributors. We noted that this was likely to become more widespread amongst stablecoin issuers.
This is the model which could challenge the two leading stablecoins, Tether and USDC. Tether has made more than $7 billion in profit in the first three quarters of this year.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
