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USDG Stablecoin Goes Live in Europe

USDG Stablecoin Goes Live in Europe

Another exciting week in San Francisco's vibrant tech ecosystem!

David J Hultgren
July 01, 2025 • Estimated Reading Time: 4 minutes

🇪🇺 Robinhood- and Kraken-Backed USDG Stablecoin Goes Live in Europe

The Global Dollar (USDG) — a fully regulated USD-backed stablecoin issued by Paxos — is now officially available across the European Union.

Backed by Robinhood, Kraken, and Mastercard, USDG stands out as a strong new contender in the growing market for dollar-pegged stablecoins in Europe. The launch follows full compliance with MiCA (Markets in Crypto-Assets Regulation), and oversight by both the Finnish Financial Supervisory Authority (FIN-FSA) and the Monetary Authority of Singapore (MAS).

💡 Key Details:

USDG is MiCA-compliant, making it one of the few stablecoins legally approved under the EU’s landmark crypto regulation.
Paxos must hold part of USDG’s reserve assets with European banking partners, in line with regulatory requirements.
It enters a market where Circle’s USDC currently leads in MiCA-regulated stablecoins.

Paxos says the move underlines its commitment to consumer protection and regulatory transparency, setting a high bar for global stablecoin standards.

“USDG is a fully regulated global USD-stablecoin that is compliant with MiCA and now available in the EU — a testament to our commitment to offering global digital assets that meet the highest standards,” said Walter Hessert, Head of Strategy at Paxos.

As the EU's digital asset framework comes into force, USDG’s arrival could reshape stablecoin competition on the continent — and give crypto-savvy users a new, compliant way to hold digital dollars.

Short Info

🇺🇸 Fed Chair Warns on U.S. Debt Path
Federal Reserve Chair Jerome Powell has called the current U.S. fiscal trajectory “unsustainable,” according to Odaily. While current debt levels remain manageable, Powell emphasized the need for urgent policy action to curb long-term debt growth.

📊 U.S. Job Openings Beat Expectations
Odaily reports that U.S. job openings in May hit 7.769 million, surpassing forecasts of 7.3 million. The previous month’s figure was also revised slightly upward from 7.391M to 7.395M, signaling continued strength in the labor market.

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📈 Bloomberg Boosts Odds for XRP, Solana, Litecoin Spot ETFs to 95%

In a major vote of confidence for altcoin ETFs, Bloomberg analysts Eric Balchunas and James Seyffart have raised approval odds for XRP, Solana (SOL), and Litecoin (LTC) spot ETFs to 95%, alongside a multi-asset “basket/index” fund.

The upgraded forecast follows continued positive engagement from SEC staff and momentum behind the regulatory process. All four ETF filings have received acknowledgment of their Rule 19b-4 forms, a key step toward regulatory approval. The basket product — like Grayscale’s Digital Large Cap Fund (GDLC) — faces a final SEC decision by July 2, while single-asset ETFs will be decided by October 2025.

🧠 What’s Driving the Optimism?

Strong regulatory signals: The altcoins in question are traded on CFTC-regulated platforms and have been treated as commodities in past SEC correspondence.
Back-and-forth filings: Issuers like VanEck, Fidelity, and 21Shares have actively revised filings at the SEC’s request — a pattern that mirrored the path to Bitcoin and Ethereum ETF approvals.
Low-risk pilot products: Bloomberg sees GDLC’s modest altcoin allocation as a test case, with a potential approval serving as a sandbox for broader ETF adoption.

🔮 Next Deadlines to Watch:

Litecoin – Oct 2
Solana – Oct 10
XRP & Dogecoin – Oct 17
Cardano – Oct 23
Polkadot – Nov 8
Avalanche & Hedera – Dec

Even Sui, which only recently filed, now holds 60% odds, while Dogecoin, Cardano, and Polkadot trail just behind the top tier at 90%.

With ETF momentum building and critical SEC decisions looming, Q3 and Q4 2025 could usher in a new era of mainstream altcoin investment access.