Alpaca, a broker-dealer and brokerage infrastructure API provider, today announced that it has joined the Global Dollar Network (GDN).
This will provide customers with access to USDG on Solana, one of the most used blockchains with benefits such as high performance and low cost. This marks a major milestone in Alpaca’s crypto infrastructure: the first production version to support deposits and withdrawals for non-Ethereum tokens.
“This is an important update for Alpaca as we continue to invest in cross-chain compatibility,” said Arush Sehgal, Head of Crypto at Alpaca. “By integrating USDG into Solana through the Global Dollar Network, Alpaca is excited to help support new stablecoin issuers and drive innovation where benefits are shared across the entire ecosystem.”
USDG is a fully supported, transparent stablecoin issued by Paxos Digital Singapore, a major payment institution supervised by the Monetary Authority of Singapore. USDG is also issued by Paxos Issuance Europe under the supervision of FIN FSA and in compliance with MiCA.
Designed to comply with upcoming global stablecoin frameworks, USDG provides a secure and efficient level of digital dollar settlement. The USDG powers the Global Dollar Network whose members, which include market leaders in finance and fintech, are leveraging their collective strengths to accelerate stablecoin adoption worldwide.
“By enabling support for USDG on Solana, Alpaca is helping to unlock faster and more affordable access to stablecoins,” said Nick Ducoff, Head of Institutional Development at Solana Foundation. “We are excited to see an enterprise-grade stablecoin expand to more developers, institutions and end users, bringing us closer to a future where it will be a key tool for global commerce.”
Through this partnership, Alpaca partners and customers gain access to a reliable, enterprise-grade stablecoin without compromising compliance or performance.