OKX, a giant among crypto exchanges, has announced official alliance with the Global Dollar Network, an open platform to bolster stablecoin adoption. The partnership permits OKX to enable support for the fully collateralized and USD-pegged stablecoin, $USDG, which is issued by Paxos, a regulated digital asset and blockchain solutions provider. The platform took to its official social media account to reveal this development.
OKX Forges Partnership with Global Dollar Network, Offering $USDG Access to 60M Users
OKX’s collaboration with Global Dollar Network permits it to unlock consumer access to $USDG. In this respect, more than 60M users across the globe can leverage the stablecoin with financial freedom and transparency. The development positions OKX among the top crypto and financial entities such as Robinhood, Paxos, Anchorage Digital, Kraken, Worldpay, and thirty other notable partners of Global Dollar Network. These platforms are actively contributing to expanding the Global Dollar Network.
The purpose of Global Dollar Network is to enhance the worldwide adoption and interoperability of the compliant digital dollars. In this respect, it provides an unparalleled digital economy on-ramp. While discussing this development, the OKX Ventures founder, Jeff Ren, stressed that this partnership is more than a technical integration. As per him, the collaboration denotes a considerable move toward strengthening people across the globe with the instruments for full control over their financial activities.
Keeping this in view, $USDG delivers a combination of usability, trust, and stability, all the crucial elements to drive real-world adoption. As a result of this partnership, OKX allows consumers to access $USDG and convert it to USD at a 1:1 ratio without any cost. Additionally, the users will be able to use $USDG across all the products of OKX, including DeFi wallet, centralized exchange, and impending Web3 integrations.
Driving Digital Dollar Adoption Along with Responsible Innovation to Redefine Value Transfer
As per OKX, the unlocking of the $USDG access in partnership with Global Dollar Network paves the way for an inclusive financial ecosystem. In addition to this, the initiative also highlights the platform’s commitment to broadening digital dollar access apart from responsible innovation. Moreover, the partnership also represents a wider trend of interoperable payment ecosystems like stablecoins to redefine value movement across the globe.
