- Alpaca customers gain access to Paxos-issued USDG through the partnership with Global Dollar Network.
- USDG operates under regulatory oversight from Singapore’s MAS and complies with the EU’s MiCA framework.
- Global Dollar Network partners include Anchorage Digital, Kraken, OKX, Robinhood, and Worldpay.
Brokerage infrastructure API provider Alpaca announced on Oct. 29 that it has joined the Global Dollar Network. The partnership provides Alpaca’s customers with access to the USDG stablecoin on the Solana blockchain.
USDG is a fully-backed stablecoin issued by Paxos Digital Singapore, a Major Payments Institution supervised by the Monetary Authority of Singapore, according to the announcement. Paxos Issuance Europe also issues USDG in the EU under the supervision of FIN FSA in compliance with the Markets in Crypto-Assets regulation.
Multi-Chain Expansion
The integration represents Alpaca’s first production release supporting deposits and withdrawals for tokens outside of Ethereum. The San Mateo, Calif.-based company selected Solana for its high throughput and low transaction costs.
Arush Sehgal, Head of Crypto at Alpaca, said the company continues to invest in multi-chain compatibility. He added that Alpaca is working to support new stablecoin issuers and promote innovation where benefits are shared across the ecosystem.
Network Partners and Infrastructure
Nick Ducoff, Head of Institutional Growth at the Solana Foundation, said the move helps unlock faster and more cost-effective access to stablecoins. He noted that the integration brings an enterprise-grade stablecoin to more developers, institutions, and end users.
Alpaca is a self-clearing broker-dealer that provides brokerage infrastructure APIs for stocks, ETFs, options, fixed income, and crypto. The company powers over 7 million brokerage accounts across hundreds of fintechs in more than 40 countries, including through Gotrade’s US options trading partnership.
