Fuze Joins the Global Dollar Network to Bring USDG to the Middle East and Turkey

Fuze, one of the Middle East and Turkey’s fastest-growing financial infrastructure providers has joined the Global Dollar Network to provide Global Dollar (USDG) to its customers.

It joins a united network of major institutions such as Robinhood, Kraken, OKX, Mastercard, Galaxy Digital and Bullish, which are forming a borderless ecosystem for the adoption of USDG, a fully-backed stablecoin pegged to the US Dollar that is issued by Paxos.

Fuze will incorporate USDG into its regulated Digital Assets-as-a-Service infrastructure. This will enable banks, fintechs and enterprises to integrate USDG into payment flows, remittances and merchant settlement – a move that will make digital payments faster, more cost effective and more accessible.

“Stablecoin infrastructure that settles in dollar-denominated amounts is very useful for various businesses. Banks, financial institutions, and exchanges can manage assets and payments more efficiently, while merchants, e-commerce businesses and enterprises can benefit from faster, cheaper settlements.”

– Mo Ali Yusuf, CEO, Fuze 

Fuze is joining the Global Dollar Network to make it simple for partners to launch trusted USDG-powered products using its API tools for payments, wallets and stablecoins. This technology enables businesses to adopt USDG with regulatory confidence. Importantly, Paxos must hold 1:1 reserves for USDG (in either dollar deposits, short duration US government securities or cash equivalents). In addition, these reserves are audited and subject to transparency measures (such as monthly reserve reports) to reassure credibility.

“USDG and the Global Dollar Network is a collaborative stablecoin ecosystem. Fuze is an important, regulated partner that helps the network to accelerate compliant stablecoin adoption and move money more efficiently across the Middle East and beyond.”

– Guillaume Kendall, Director of Business Development (EMEA Crypto Natives), Paxos Infrastructure