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Digital assets

July 30, 2026

Inside USDG: Why Paxos is helping build a new kind of stablecoin

Paxos says the future of stablecoins belongs to networks, not single issuers. It’s testing out that big idea with USDG, which it helped found in late 2024.

Peter Jonas, Paxos’ chief revenue officer, seated on a couch in the NYC office.

Ben Fox Rubin

Vice President,

Global Communications,

Mastercard

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Start from the beginning — the origin stories for GDN.

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What’s the utility of a coin like USDG?

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What is the vision for the Global Dollar Network? What does this look like for the everyday consumer?

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Stablecoins is a tool that could advantage anyone who's willing to adopt it, not displace the existing construct — instead make things faster, make things cheaper, make things much more transparent.

Peter Jonas

Are you seeing consumer and small business adoption already?

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Is Paxos prioritizing USDG over USDP going forward?

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Do people need to know the difference between stablecoins?

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Do you see efforts like GDN as being disruptive to the industry, something that could potentially replace what we currently have with financial institutions?

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Bridging on-chain innovation and everyday commerce

Mastercard's Crypto Partner Program connects digital asset innovators with global payments infrastructure to support blockchain payments, stablecoin settlement, and cross-border commerce.

Links in a chain that have glowing numbers on them.