Stablecoin dossierReturn to register
Record sog_st_usdg
USDG/Global Dollar
Also recorded as USDG, Global Dollar
- Lifecycle
- Active
- Issuance
- Restricted
- Reference target
- US dollar
- Primary organization
- Paxos Digital Singapore Pte. Ltd.2 additional relationships
- Launch
- 2024-11-04
- Redemption
- Eligible Customers Only
- Backing
- Fiat and cash equivalents
- Stabilization
- Issuer redemption
- Last review
- 2026-06-05
- Evidence
- 3 source records
Reviewed assessment
Identity and current state
This summary reports reviewed facts and uncertainty. It is not a rating or recommendation.A US dollar stablecoin connected to the Global Dollar Network and issued through Paxos-related arrangements.
| Name | Global Dollar |
|---|---|
| Symbol | USDG |
| Aliases | USDG, Global Dollar |
| Asset class | Stablecoin |
| Lifecycle status | Active |
| Issuance status | Restricted |
| Canonical record ID | sog_st_usdg |
| Route slug | usdg |
| Record confidence | Medium |
| Last reviewed | 2026-06-05 |
- Name
- Global Dollar
- Symbol
- USDG
- Aliases
- USDG, Global Dollar
- Asset class
- Stablecoin
- Lifecycle status
- Active
- Issuance status
- Restricted
- Canonical record ID
sog_st_usdg- Route slug
usdg- Record confidence
- Medium
- Last reviewed
- 2026-06-05
Record coverage
| Section | Entries |
|---|---|
| Organizations | 3 |
| Sources | 3 |
| Reserve reports | 2 |
| Reserve components | 1 |
| Model-history events | 0 |
| Regulatory notes | 0 |
| Deployments | 1 |
| Issuer-control actions | 0 |
| Open questions | 5 |
| Events | 1 |
Primary display is a navigation and summary choice only. It does not replace other organizations or imply sole legal responsibility, operational control, reserve custody, or historical continuity.
- Governance
- Centralized
- Primary display organization
- Paxos Digital Singapore Pte. Ltd.
- Primary display role
- Legal issuer
- Display selection mode
- Explicit Override
- Current relationships
- 3
- Ended relationships
- 0
- Unknown relationship state
- 0
- Freeze capability
- 0 recorded yes · 0 recorded no · 1 not recorded
- Blacklist capability
- 0 recorded yes · 0 recorded no · 1 not recorded
- Deployment control-event references
- 0
- Observed issuer-control events
- 0
- Relationship coverage
- 3 recorded relationships
| Organization | Organization category | Regulatory character | Jurisdiction | Role | Display priority | From | Until | Relationship status |
|---|---|---|---|---|---|---|---|---|
| Paxos Digital Singapore Pte. Ltd. | Company or corporate group | Not recorded in canonical data | Singapore | Legal issuer | Primary display | Not yet recorded | Not yet recorded | Active relationship |
| Paxos Issuance Europe Oy | Company or corporate group | Not recorded in canonical data | Finland / European Union | Legal issuer | Additional relationship | Not yet recorded | Not yet recorded | Active relationship |
| Global Dollar Network | Network or ecosystem | Not recorded in canonical data | multi_jurisdiction | Brand owner | Additional relationship | 2024-11-04 | Not yet recorded | Active relationship |
Company or corporate group
Primary displayPaxos Digital Singapore Pte. Ltd.
- Functional role
- Legal issuer
- Relationship status
- Active relationship
- Regulatory character
- Not recorded in canonical data
- Jurisdiction
- Singapore
- From
- Not recorded
- Until
- Not recorded
Company or corporate group
Additional relationshipPaxos Issuance Europe Oy
- Functional role
- Legal issuer
- Relationship status
- Active relationship
- Regulatory character
- Not recorded in canonical data
- Jurisdiction
- Finland / European Union
- From
- Not recorded
- Until
- Not recorded
Network or ecosystem
Additional relationshipGlobal Dollar Network
- Functional role
- Brand owner
- Relationship status
- Active relationship
- Regulatory character
- Not recorded in canonical data
- Jurisdiction
- multi_jurisdiction
- From
- 2024-11-04
- Until
- Not recorded
Mechanism
How the asset works
Reference, backing, stabilization, exit, valuation, and yield remain separate facts.- Reference target
- US dollar
- Reference kind
- Fiat
- Comparison category
- US dollar
- Target value
- 1
- Reference methodology
- Targets a US dollar reference value unless the record documents a different target value.
- Public backing model
- Fiat and cash equivalents
- Canonical backing types
- Mixed
- Reserve component categories
- Unknown
- Primary stabilization mechanism
- Issuer redemption
- Recorded model description
- Fiat-backed
- Redemption / exit model
- Eligible Customers Only
- Valuation source
- Public information is incomplete
- Yield / rebase profile
- None recorded
- Classification notes
- Not recorded
Reserve and redemption
Reserve and redemption
Recorded components, disclosures, reports, and redemption conditions remain explicit.Reserve components
- Mixed backing; component breakdown unresolvedUnknown after review
| Disclosure status | Not yet recorded |
|---|---|
| Backing types | Mixed |
| Summary | Reserve disclosure entry points exist, while exact issuer-entity and period-level reporting remain under review. |
| As of | 2026-06-05 |
| Profile confidence | Medium |
- Disclosure status
- Not yet recorded
- Backing types
- Mixed
- Summary
- Reserve disclosure entry points exist, while exact issuer-entity and period-level reporting remain under review.
- As of
- 2026-06-05
- Profile confidence
- Medium
| Current status | Eligible Customers Only |
|---|---|
| Settlement asset | USD |
| Eligible parties | Fully verified Paxos customers served by Paxos Digital Singapore or Paxos Issuance Europe where the applicable entity and jurisdiction permit USDG issuance or redemption. |
| Retail access | Customer Account and Identity Verification Required |
| Institutional access | Eligible Paxos Customers Direct |
| Minimum amount | Paxos may require a redemption minimum equal to the applicable bank wire fee; the minimum may change and redemptions are rounded down to the nearest U.S. cent. |
| Fee | Paxos states that it does not charge a USD Stablecoin redemption fee, while banking, wallet, transfer, account, or other third-party fees may apply. |
| Settlement time | Paxos states that U.S.-dollar withdrawals may take up to two days, with larger withdrawals potentially taking substantially longer; compliance review may also delay processing. |
| Regional limits | Only verified Paxos customers may redeem directly., Service availability depends on residence and the Paxos entity with which the customer is registered., Paxos may refuse or suspend issuance or redemption for compliance, account, legal, or platform reasons. |
- Current status
- Eligible Customers Only
- Settlement asset
- USD
- Eligible parties
- Fully verified Paxos customers served by Paxos Digital Singapore or Paxos Issuance Europe where the applicable entity and jurisdiction permit USDG issuance or redemption.
- Retail access
- Customer Account and Identity Verification Required
- Institutional access
- Eligible Paxos Customers Direct
- Minimum amount
- Paxos may require a redemption minimum equal to the applicable bank wire fee; the minimum may change and redemptions are rounded down to the nearest U.S. cent.
- Fee
- Paxos states that it does not charge a USD Stablecoin redemption fee, while banking, wallet, transfer, account, or other third-party fees may apply.
- Settlement time
- Paxos states that U.S.-dollar withdrawals may take up to two days, with larger withdrawals potentially taking substantially longer; compliance review may also delay processing.
- Regional limits
- Only verified Paxos customers may redeem directly., Service availability depends on residence and the Paxos entity with which the customer is registered., Paxos may refuse or suspend issuance or redemption for compliance, account, legal, or platform reasons.
| Date | Publisher | Type | Assets covered | Record confidence |
|---|---|---|---|---|
| 2026-06-05 | Global Dollar Network | Issuer or Network Disclosure Reference | Cash, Cash Equivalents, Not yet recorded | Medium |
| 2026-06-05 | Paxos | Issuer Disclosure Reference | Cash, Cash Equivalents, Not yet recorded | Low |
Global Dollar Network
2026-06-05- Type
- Issuer or Network Disclosure Reference
- Assets covered
- Cash, Cash Equivalents, Public information incomplete
- Record confidence
- Medium
Paxos
2026-06-05- Type
- Issuer Disclosure Reference
- Assets covered
- Cash, Cash Equivalents, Public information incomplete
- Record confidence
- Low
Deployments and legal context
Deployments and legal context
Network state, contract identity, legal notices, and value states remain separate.| Network | Network record state | Standard | Public deployment category | Canonical deployment type | Operational state | Recorded status | Change or proposal state | Canonicality | Canonicality record state | Verification state | Contract identity state | Contract or identifier | Freeze | Blacklist | Control events | Notes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Not yet recorded | Network source review needed | Not yet recorded | Issuer- or institution-supported deployment | Issuer or Network Supported Token | Unknown or unresolved | Not yet recorded | No separate change state recorded | Issuer-native deployment | Canonicality recorded | Source-linked record; identifier not recorded | Identifier not recorded | Identifier not recorded | Not yet recorded | Not yet recorded | 0 | USDG supported chains, canonical contracts, and issuer/network support level need exact documented review. Keep chain coverage as unknown until Global Dollar Network or issuer docs provide a durable reference. |
| Date | Title | Authority / publisher | Type | Summary |
|---|---|---|---|---|
| No regulatory notes have been added yet. | ||||
No regulatory notes have been added yet.
Evidence
Evidence
Publisher, provenance, supported claims, archive state, reliability, and publication date remain separate.| Source | Publisher | Source category | Provenance | Primary or secondary | Supported claims | Archive | Reliability |
|---|---|---|---|---|---|---|---|
| Global Dollar Network page Published Not yet recorded | Global Dollar Network | Official documentation or product page Canonical: Issuer or Network Page | Subject-controlled source | Primary source | USDG overview, backing, redemption, reserve and network context, Network participation, partner model, reward or network economics context, and public documentation entry point | No archive recorded | Medium |
| Paxos USDG page Published Not yet recorded | Paxos | Official documentation or product page Canonical: Issuer Page | Subject-controlled source | Primary source | USDG issuer, reserve, redemption, and jurisdiction context | No archive recorded | Medium |
Known unknowns
Known unknowns and coverage
Missing or disputed facts remain visible instead of being converted into certainty.| Topic | What remains unclear | Value state | Priority | Last checked |
|---|---|---|---|---|
| Issuer Entity | Paxos Digital Singapore Pte. Ltd. and Paxos Issuance Europe Oy are now recorded as joint legal issuers. The effective start date of the European issuer role and token-level provenance between the two issuing entities remain unresolved. | Unknown after review | Low | 2026-07-14 |
| Reserve Report History | USDG reserve report source and period-level reserve reporting history need exact documented entries before SOG displays a reserve timeline. | Unknown after review | Medium | 2026-06-05 |
| Redemption Path | Direct one-to-one redemption is limited to verified Paxos customers and may be routed through Paxos Digital Singapore or Paxos Issuance Europe. Exact availability by residence, registered Paxos entity, account state, current minimum schedule, and banking route remains variable under the current terms. | Unknown after review | Low | 2026-07-14 |
| Chain Contracts | USDG supported chains, canonical contract addresses, and issuer-supported deployment status need official source review before final chain coverage is displayed. | Unknown after review | Medium | 2026-06-05 |
| Network Partners | Global Dollar Network partner roles, partner incentives, public partner list, and network economics need source-specific documentation before they are modeled as stablecoin lifecycle facts. | Unknown after review | Low | 2026-06-05 |
Issuer Entity
Paxos Digital Singapore Pte. Ltd. and Paxos Issuance Europe Oy are now recorded as joint legal issuers. The effective start date of the European issuer role and token-level provenance between the two issuing entities remain unresolved.
- Value state
- Unknown after review
- Priority
- Low
- Last checked
- 2026-07-14
Reserve Report History
USDG reserve report source and period-level reserve reporting history need exact documented entries before SOG displays a reserve timeline.
- Value state
- Unknown after review
- Priority
- Medium
- Last checked
- 2026-06-05
Redemption Path
Direct one-to-one redemption is limited to verified Paxos customers and may be routed through Paxos Digital Singapore or Paxos Issuance Europe. Exact availability by residence, registered Paxos entity, account state, current minimum schedule, and banking route remains variable under the current terms.
- Value state
- Unknown after review
- Priority
- Low
- Last checked
- 2026-07-14
Chain Contracts
USDG supported chains, canonical contract addresses, and issuer-supported deployment status need official source review before final chain coverage is displayed.
- Value state
- Unknown after review
- Priority
- Medium
- Last checked
- 2026-06-05
Network Partners
Global Dollar Network partner roles, partner incentives, public partner list, and network economics need source-specific documentation before they are modeled as stablecoin lifecycle facts.
- Value state
- Unknown after review
- Priority
- Low
- Last checked
- 2026-06-05
Lifecycle
History
Current classification remains separate from dated changes and incidents.Model and lifecycle changes
No separate model-change event is currently recorded.
| Date | Event | Category | Subtype | Status effect | Recovery |
|---|---|---|---|---|---|
| 2024-11-04 | Global Dollar launch context | Launch and introduction | Launch | No lifecycle change | Not applicable |
Related records and corrections
Corrections and further reading
Open connected records, methodology, machine-readable data, or report a correction.Use these explainers to compare the legal, regulatory, reserve, redemption, or distribution questions connected to this record.
After MiCA: Which Stablecoins Can Europeans Actually Use?
A reviewed guide to EU/EEA stablecoin access, separating issuer status, platform state, customer scope, product functions, direct mint and redemption routes, payment rails, supported networks, and dates.
GENIUS Act and Stablecoins
A beginner-friendly guide to the U.S. payment-stablecoin law, its implementation timeline, and the questions it creates for representative dollar stablecoins.
Open USD Explained: Who Gets the Reserve Income?
Open Standard says partners will receive all reserve earnings after a small management fee. This guide separates that partner model from holder yield and records what is still unknown before launch.
- All stablecoinsCompare this record with the rest of the archive.
- Paxos Digital Singapore Pte. Ltd.Singapore
- Event registry1 connected event recorded.
- MethodologyRead classification, evidence, and value-state rules.
- CorrectionsReport a source, relationship, or record problem.
- Data manifestInspect the machine-readable public layer.