Global Dollar
USDG
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
Whale Pulse
Large transaction flow (>$10k)
24h Whale Volume
$0.0k
Sentiment
Accumulation
Recent DEX Trades
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Comprehensive evaluation of the token
Global Dollar (USDG) is an institution-focused, fiat-backed USD stablecoin issued by Paxos Digital Singapore under Monetary Authority of Singapore (MAS) supervision and compliant with the EU's MiCA framework. Active development and market adoption are solid, with multi-chain rollouts across Ethereum, Solana, and Layer 2s, amassing over $1.4B–$3.4B in circulation and an ecosystem of 100+ institutional partners sharing reserve yields. However, the asset is deliberately engineered without retail DAO governance, resulting in minimal grassroots community activity (3.0/10). Tokenomics and security reflect Paxos's centralized control, including upgradeable proxy contracts, centralized freeze capabilities, and high holder concentration. Despite these structural centralization trade-offs, USDG maintains a pristine operational track record with zero hacks, exploits, depegs, or active litigation. No qualifying red-flag events or data gaps were identified.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Global Dollar (USDG)
Global Dollar (USDG) is a fiat-backed, US dollar-pegged stablecoin issued by Paxos Digital Singapore Pte. Ltd. It is designed primarily for institutional adoption and operates under regulatory oversight, supervised by the Monetary Authority of Singapore (MAS) and structured for Markets in Crypto-Assets (MiCA) compliance in the European Union through Paxos Issuance Europe. USDG is deployed across multiple blockchain networks, including Ethereum, Solana, Ink, and X Layer, with underlying reserves backed by US Treasury debt held through institutional banking partners such as DBS Bank.
The stablecoin operates on an elastic supply mint-and-burn model without scheduled emissions or founder vesting allocations. Its primary economic model incentivizes network participants by distributing more than 90% of reserve revenue back to eligible institutional partners. Total circulating supply has expanded across multiple networks, scaling between $1.4 billion and $3.4 billion depending on the reporting source and snapshot period.
Governance and smart contract operations are entirely centralized under Paxos, which retains administrative controls including upgradeable proxy contracts, non-renounced ownership, and the unilateral ability to block or freeze balances via a specialized SupplyControl contract. In addition, no verified third-party smart contract audit has been confirmed for the token contracts. While USDG has maintained its $1.00 peg with no recorded exploits, depegs, or direct regulatory sanctions, Paxos as an issuer previously faced regulatory shutdown actions on an earlier stablecoin product (BUSD).