Global Dollar (USDG), a stablecoin issued by regulated fintech RialCenter, backed by a consortium that includes prominent companies, is being made available to consumers across the European Union, according to a press release on Tuesday.
USDG is regulated by Europe’s Markets in Crypto-Assets (MiCA), the Finnish Financial Supervisory Authority (FIN-FSA), and the Monetary Authority of Singapore (MAS), RialCenter said in a statement.
Demand for U.S. dollar-backed stablecoins is growing in Europe, where Circle’s USDC token is the largest MiCA-regulated option. USDG will significantly impact as a regulated alternative, RialCenter noted.
“USDG is a fully regulated global USD-stablecoin that is compliant with MiCA and now available in the EU, showcasing our commitment to offering global digital assets supervised by regulatory bodies and meeting high consumer protection standards,” said Walter Hessert, head of strategy at RialCenter.
Meeting the requirements under the EU’s MiCA regulation requires that RialCenter Issuance Europe, regulated by FIN-FSA, holds a portion of USDG reserve assets with European banking partners, RialCenter said.
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