Everyone is talking about Trump’s “crypto presidency”. Did you know that Polymarket, the prediction market that grew by 100x this year, predicted US election results with 100% accuracy 2 weeks ahead? Survivor bias – maybe.
Nevertheless, the numbers are impressive: $3.5 billion — that’s how much people have bet on the big question: Who will win the 2024 presidential election?
Here’s the big news that slipped under the radar: Paxos, Galaxy, Bullish, Anchorage, Kraken, Robinhood, and Nuvei launched the Global Dollar Network (GDN) — along with its own stablecoin, USDG [press release].
This is one of the most ambitious industry-wide stablecoin initiative to date, challenging USDT and USDC with almost 90% combined market share.
Just for context: Nuvei alone processes over $200B in global volume.
What makes GDN different?
Instead of holding all reserve benefits centrally, the Global Dollar Network shares rewards directly with participants, shaking up the traditional stablecoin model.
Plus: Keep up with our signals for Web3 execs on our Telegram channel.
Swift, UBS Asset Management, and Chainlink have completed a pilot that connects tokenized assets with existing payment systems [press release].
Why it matters: The model shows how tokenised assets can coexist with fiat systems. Integrating tokenised fund operations with fiat-based payments could unlock access to over 11,500 financial institutions across 200+ countries.
