Global DollarUSDG

A Paxos-issued US-dollar stablecoin regulated in Singapore and the EU, whose reserve income is shared with partner firms.

Rank #34Since November 2024

Price on 31 Oct 2026

C$1.40 -0.5% since 31 Jul 2026 · 41.3% below its all-time high

The short version

Global Dollar is a US-dollar stablecoin launched on 1 Nov 2024 by Paxos Digital Singapore, a Major Payments Institution supervised by the Monetary Authority of Singapore, and issued in the EU by Paxos Issuance Europe under MiCA since 1 Jul 2025. Reserves are dollar deposits and US government securities, attested monthly by KPMG. Partner firms in the Global Dollar Network receive up to 100% of the reserve returns on USDG held on their platforms. On 31 Oct 2026 one USDG cost C$1.40. From 31 Jul 2026 to 31 Oct 2026 its price changed -0.5% in Canadian dollars, and it was 41.3% below its all-time high of C$2.38 set on 29 Jan 2025.^[1]

Facts checked 2 Nov 2026 · 12 sources · next update about 1 Dec 2026

Price, past year

Past year: high C$1.44 (5 Apr 2026) · low C$1.35 (29 Jan 2026) · -0.7%^[1]

Month-end prices (table)

Date	C$	US$
31 Oct 2026	C$1.40	US$1.00
30 Sep 2026	C$1.42	US$1.00
31 Aug 2026	C$1.39	US$1.00
31 Jul 2026	C$1.40	US$1.00
30 Jun 2026	C$1.42	US$1.00
31 May 2026	C$1.38	US$1.00
30 Apr 2026	C$1.36	US$0.9998
31 Mar 2026	C$1.39	US$0.9998
28 Feb 2026	C$1.36	US$1.00
31 Jan 2026	C$1.36	US$1.0000
31 Dec 2025	C$1.37	US$0.9997
30 Nov 2025	C$1.40	US$0.9998

Daily prices from CoinGecko; C$ converted at the Bank of Canada daily rate. The latest point is live when available. Past prices, not a forecast.

Choose what to see

Key facts

Price, 31 Oct 2026: C$1.40^[1]
3-month change: -0.5% in C$ (31 Jul 2026 to 31 Oct 2026)^[1]
From its high: 41.3% below its high of C$2.38 (29 Jan 2025)^[1]
Market rank: #34, market value about C$4.2B^[1]
Kind: Stablecoin · Ethereum (ERC-20); also issued natively on Solana, X Layer, Robinhood Chain, Ink and Arbitrum
Started: November 2024

Checks: the same 9 questions for every coin

Facts, not a rating

Can an admin key create new coins?YesPaxos mints USDG against dollar deposits and burns on redemption through a supply-control role^{[2, 3]}

Can anyone freeze or take coins from holders?YesThe supply-control role can burn USDG from any address (decreaseSupplyFromAddress)^[3]

Can the token's contract code be changed?YesUpgradeable proxy contract on Ethereum^[4]

Is the supply capped?NoNo maximum; supply follows deposits and redemptions^[5]

Any scheduled unlocks in the next 12 months?NoNo vesting or locked allocations^[2]

Does a team or foundation hold over 10% of supply?NoNo team or investor allocation; coins are issued only against deposits^[2]

Do network fees reach coin holders?NoReserve returns go to Paxos and Global Dollar Network partner firms, not to holders^[6]

Main network hacked or halted in the past 2 years?NoNo exploit of the USDG contracts found^[7]

Is a regulator or court case targeting the coin itself?NoNo live regulator or court case naming USDG or its issuers found^{[2, 8]}

Each answer is a fact with a source, not a score. What each check means.

Who controls it

Issuer: Paxos Digital Singapore Pte. Ltd. (MAS Major Payments Institution); Paxos Issuance Europe Oy (FIN-FSA, MiCA) in the EU^{[2, 6]}
Parent: Paxos, New York; the OCC approved converting Paxos Trust Company into a national trust bank in Dec 2025^[9]
Admin powers: A supply-control role can mint and can burn from any address; upgradeable proxy with admin roles^{[3, 4]}
Banking: DBS Bank is the primary banking partner for cash management and custody of reserves^[2]

Supply

In circulation: 2.92B USDG^[1]
Maximum supply: None set^[1]
Outstanding: US$2.86B on 2 Nov 2026, down from US$3.09B a month earlier; X Layer US$1.18B, Robinhood Chain US$0.65B^[5]
Reserves: US dollar deposits, short-duration US government securities and cash equivalents, with DBS Bank^[2]
Attestation: Monthly under ISCA standards; KPMG LLP since 27 Feb 2026 (Enrome LLP before); latest for Sep 2026^[10]

Use and fees

Partner rewards: Global Dollar Network partners get up to 100% of returns on USDG held on their platforms; holders get nothing directly^[6]
Network: A partner's USDG lending product held about US$456M on 31 Aug 2026; Mantle joined the network on 26 Sep 2026^[8]

Trading

Daily trading: About C$915.8M a day on average, 31 Jul 2026 to 31 Oct 2026^[1]
Daily turnover: Typically 16.52% of its market value changes hands each day^[1]
20-week average: 0.0% above its 20-week average price^[1]
1-year change: -0.0% in C$^[1]^[11]

History

Not a forecast

Coins ranked 11-50 at this point in past cycles (12-14 months after a Bitcoin peak), one year later: 1,080 cases, 157 coins

46% were higher a year later^[12]

Typical result: Median -6% after a year; 61% higher after two years
Lost half or more: 25% within a year
Against Bitcoin: 12% did better than Bitcoin over the year

History, not a forecast.

Red flags and things to watch

No red flags found

USDG went live natively on Robinhood Chain in Jul 2026 and on Arbitrum One in 2026; US$1.18B of supply sits on X Layer.^{[8, 6, 5]}
Paxos switched USDG's monthly attestation to KPMG LLP from 27 Feb 2026; earlier reports were by Enrome LLP.^[10]

Checked: admin keys, contract upgrades, unlocks, insider supply, hacks, legal actions and claims against records.

Sources and dates

Facts as of 31 Oct 2026. Prices from CoinGecko in Canadian and US dollars; US$ figures without a C$ price are converted at 1.3976 C$ per US$.