Global #US dollars

Paxos has officially launched USDG, a new stablecoin backed by real U.S. dollars, enhancing trust and stability for users.

In an open letter addressed to Vice President Kamala Harris and former President Donald Trump, Charles Cascarilla, CEO and co-founder of Paxos, emphasized the critical need for the next presidential administration to adopt digital assets and reform outdated financial regulations.

In a significant shift, Nigeria, Africa’s largest oil producer, has decided to sell its crude oil in naira instead of US dollars. This decision, announced by the Federal Executive Council (FEC), marks a departure from decades of reliance on foreign currency for oil transactions, aiming to bolster the nation’s economic stability.

In a significant development for cryptocurrency investors in New Jersey, Abra, a crypto trading and lending company, has reached a settlement with the New Jersey Bureau of Securities. The agreement, which follows a multi-state investigation into the sale of unregistered securities, mandates that Abra convert the remaining crypto assets in New Jersey accounts to US dollars and issue refund checks to investors.

Hex Trust Group, a prominent crypto custodian headquartered in Hong Kong, has introduced USDX, marking the inaugural native stablecoin on the layer-1 blockchain Flare.