Global Dollar Network Surpasses 25 Members—Stablecoin Domination Goes Into Overdrive

Another day, another legacy finance system getting crypto’d. The so-called ’Global Dollar Network’—a coalition pushing stablecoin adoption—now counts over 25 members, from fintechs to (gasp) traditional banks finally smelling the coffee.

Why it matters: This isn’t just about digital dollars. It’s a full-scale bypass of SWIFT’s clunky rails—with transactions settling faster than a Wall Street trader’s moral compass.

The punchline? While the suits debate ’regulation,’ the market’s voting with its wallet. Stablecoins now move more value than Visa in some corridors—and the network effect just hit ludicrous speed.

• GDN adds 19 new partners that will push for the adoption of USDG with over 42 million users.
• USDG on Solana ensures fast, low-cost, and secure stablecoin transactions.
• GDN rewards partners with revenue sharing, boosting stablecoin network growth.

Global Dollar Network (GDN) has expanded its coalition, adding BitMart and Arculus, among other new partners, boosting its membership to over 25 leading companies. The announcement on 12 May marks the network’s rapid development and its increasing role in the stablecoin ecosystem. GDN currently serves over 42 million users globally through its US dollar-backed Global Dollar (USDG) stablecoin.

Network Model Drives Industry Participation

After its launch in November 2024, Global Dollar Network has built an open revenue-sharing model that compensates partners according to their contributions. The network’s founding members—Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos, and Robinhood—created a framework to incentivize collaboration across custodians, exchanges, payment fintech, and banks. 

New additions like wallet provider Arculus and crypto exchange BitMart further diversify GDN’s blockchain infrastructure and financial services capabilities.

Walter Hessert, Head of Strategy at Paxos, underscored the importance of this growth. “Global Dollar Network is reshaping stablecoin adoption by delivering tangible economic benefits to partners and users,” he said. “Members join Global Dollar Network because legacy models did not meet their needs. Our revenue-sharing approach makes stablecoins more accessible, efficient, and inclusive.” His comments affirm that GDN remains committed to an equitable economic model that redistributes network revenue to contributors.

USDG on Solana Enhances Accessibility

Issued by Paxos Digital Singapore, USDG runs on the solana blockchain and complies with the Monetary Authority of Singapore’s upcoming stablecoin framework. The token’s multi-chain roadmap is intended to expand its reach beyond Solana. 

Global Dollar Network’s unique structure shares network earnings monthly through proprietary attribution technology, which promotes partners to sustain real-world use cases such as cross-border payments, remittance, and treasury management.

Mark Greenberg, the Global Head of Consumer at Kraken, also highlighted USDG’s role in bridging traditional finance and crypto. “The growth of the Global Dollar Network reflects real momentum toward stable, scalable digital currency solutions,” he said.

Stablecoin Market Trends and Future Outlook

The stablecoin market has surged more than fiftyfold in market capitalization over five years. Although established players such as Tether and Circle exist, GDN’s model sets the stage for the rapid adoption of USDG. GDN’s coalition has established a global presence, covering platforms from Europe, Asia, and the Middle East, including CoinMENA, Rain, PDAX, BiLira, and Paribu.

Furthermore, GDN invites innovative enterprises to join its network. According to Hessert, by aligning partner incentives with adoption goals, GDN aims to grow USDG’s supply “by a few magnitudes” by year-end.

As regulatory clarity evolves, GDN expects new high-profile members to join, reinforcing its role in the trillion-dollar stablecoin opportunity. Although giants in payment providers such as Visa are negotiating to join the network, the network is expanding toward establishing a wider network and upscaling USDG’s capabilities.

Related Reading | Uniswap Becomes the First DEX to Hit $3 Trillion in Lifetime Trading Volume