Alpaca, a self-clearing broker-dealer and a provider of brokerage infrastructure APIs, announced today that it has joined Global Dollar Network (GDN).
This will provide customers access to USDG on Solana, one of the most used blockchains with benefits including high throughput and low costs. This marks a major milestone in Alpaca’s crypto infrastructure: its first production release supporting deposits and withdrawals for tokens outside of Ethereum.
“This is a major update for Alpaca as we continue to invest in multi-chain compatibility,” said Arush Sehgal, Head of Crypto at Alpaca. “By integrating USDG on Solana through the Global Dollar Network, Alpaca is excited to help support new stablecoin issuers and to promote innovation where benefits are shared amongst the whole ecosystem.”
USDG is a fully backed, transparent stablecoin issued by Paxos Digital Singapore, a Major Payments 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 digital dollar settlement layer. USDG powers the Global Dollar Network whose members, which include market leaders across finance and fintech, are leveraging collective strengths to accelerate stablecoin adoption worldwide.
“By enabling support for USDG on Solana, Alpaca is helping unlock faster, more cost-effective access to stablecoins,” said Nick Ducoff, Head of Institutional Growth at the Solana Foundation. “We’re excited to see an enterprise-grade stablecoin expand to more developers, institutions, and end users, bringing us closer to a future where they are a mainstream tool for global commerce.”
Through this partnership, Alpaca’s partners and customers gain access to a trusted, enterprise-grade stablecoin without compromising on compliance or performance.
