SAN MATEO, Calif.--(BUSINESS WIRE)--Alpaca, a global leader in brokerage infrastructure APIs providing access to crypto, stocks, ETFs, options, and fixed income, announced today that it has joined Global Dollar Network (GDN). This will provide customers access to USDG on Solana, one of the most used blockchains with benefits including high throughput and low costs. This marks a major milestone in Alpaca’s crypto infrastructure: its first production release supporting deposits and withdrawals for tokens outside of Ethereum.
Multi-Chain Ready Infrastructure
- First Multi-Chain Support: Live on Solana, enabling deposits and withdrawals beyond Ethereum for the first time.
- Trusted Stablecoin Access: Powered by USDG, a fully-backed and transparent digital dollar issued by Paxos Digital Singapore under MAS oversight and by Paxos Issuance Europe in the EU, compliant with MiCA.
- Flexible Settlements: Bringing customers fast and cost-efficient stablecoin pairs, powered by Alpaca Crypto’s enterprise-grade infrastructure.
“This is a major update for Alpaca as we continue to invest in multi-chain compatibility,” said Arush Sehgal, Head of Crypto at Alpaca. “By integrating USDG on Solana through the Global Dollar Network, Alpaca is excited to help support new stablecoin issuers and to promote innovation where benefits are shared amongst the whole ecosystem."
Powered by a Trusted Stablecoin
USDG is a fully backed, transparent stablecoin issued by Paxos Digital Singapore, a Major Payments Institution supervised by the Monetary Authority of Singapore. USDG is also issued by Paxos Issuance Europe under the supervision of FIN FSA and in compliance with MiCA.
Designed to comply with upcoming global stablecoin frameworks, USDG provides a secure and efficient digital dollar settlement layer. USDG powers the Global Dollar Network whose members, which include market leaders across finance and fintech, are leveraging collective strengths to accelerate stablecoin adoption worldwide.
“By enabling support for USDG on Solana, Alpaca is helping unlock faster, more cost-effective access to stablecoins,” said Nick Ducoff, Head of Institutional Growth at the Solana Foundation. “We're excited to see an enterprise-grade stablecoin expand to more developers, institutions, and end users, bringing us closer to a future where they are a mainstream tool for global commerce.”
Through this partnership, Alpaca’s partners and customers gain access to a trusted, enterprise-grade stablecoin without compromising on compliance or performance.
About Alpaca
Alpaca is a US-headquartered, self-clearing broker-dealer and a global leader in brokerage infrastructure APIs providing access to stocks, ETFs, options, fixed income, and crypto. Alpaca delivers embeddable finance solutions for tokenization, fully paid securities lending, high-yield cash, 24/5 trading, Shariah-compliant investing and more. Today, Alpaca powers over 7 million brokerage accounts across hundreds of fintechs and institutions in 40+ countries with over $170M in funding. For more information, visit: alpaca.markets
About Global Dollar Network
Global Dollar Network is the world’s fastest growing stablecoin network with unmatched economic upside. Powered by Global Dollar (USDG), a US dollar-backed stablecoin issued by Paxos Digital Singapore and Paxos Issuance Europe, Global Dollar Network offers a transparent and equitable economic model that rewards partners for their contributions. Global Dollar Network partners include industry leaders such as Anchorage Digital, Bullish, Kraken, OKX, Paxos, Robinhood, Worldpay and more. For more information, please visit: https://globaldollar.com/
About USDG in the EU
Paxos issues USDG in the EU through Paxos Issuance Europe OY ("PIE"). USDG is fully redeemable from Paxos on a one-to-one basis for U.S. dollars. All USDG token holders in the EU have a right of redemption against PIE at any time and at par value for USDG. Further information is available at paxos.com/eu, and the EU USDG White Paper is available at www.paxos.com/terms-and-conditions/usdg-eu-whitepaper
Email: support@paxos.com
Telephone: +358 4549 00 361
Note: USDG is available on Solana, Ink and Ethereum.
Cryptocurrency services are provided by Alpaca Crypto LLC, a FinCEN-registered MSB (NMLS #2160858) and subsidiary of AlpacaDB, Inc. Cryptocurrency assets are highly volatile and speculative, involving substantial risk of loss, and are not insured by the FDIC or any government agency. Customers should be aware of the various risks prior to engaging these services, including potential loss of principal, cybersecurity considerations, regulatory developments, and the evolving nature of digital asset technology. For additional information on the risks of cryptocurrency, please click here.
Securities brokerage services are provided by Alpaca Securities LLC, member FINRA/SIPC, a wholly owned subsidiary of AlpacaDB, Inc.
All investments involve risk; for more information, please see our Disclosure Library.
AlpacaDB, Inc., the parent company of Alpaca Securities LLC and Alpaca Crypto LLC, provides services and technology, including the brokerage infrastructure API supporting Alpaca’s financial services. This is not an offer, solicitation of an offer, or advice to buy or sell securities or cryptocurrencies or open a brokerage account or cryptocurrency account in any jurisdiction where Alpaca Securities or Alpaca Crypto, respectively, are not registered or licensed, as applicable.
Alpaca and the entities mentioned in this article are not affiliated and are not responsible for the liabilities of others.
Contacts
Media Contact
Patrick Valoppi
press@alpaca.markets