USDG or USDC — how does Global Dollar compare with USDC and USDT?
USDG (Paxos (Global Dollar Network)): $3.0B in circulation, authorised under MiCA in the EU. USDC (Circle): $72.7B in circulation, authorised under MiCA in the EU. USDT (Tether): $183.4B in circulation, not authorised under MiCA.
USDG is issued by Paxos and backed by a network of exchanges and fintechs that share in its reserve income. It is much smaller than USDC and USDT so far. All three aim at one dollar and hold cash and short-term US Treasuries.
How this list is made: computed from the live TokenBank dataset each time the page is built — 3 matching rows, each linked to its own page and source.
Figures from our live dataset · data as of 2026-10-11 · this answer as JSON · not investment advice
| Token | Issuer | Yield / return | Minimum | KYC to buy | EU (MiCA) | Chain |
|---|---|---|---|---|---|---|
| USDG Global Dollar | Paxos (Global Dollar Network) | No yield | — | No KYC on a DEX | Authorised · FIN-FSA (Finland) Paxos Issuance Europe Oy source | X Layer / Robinhood Chain / Solana (+5) |
| USDC USD Coin | Circle | No yield | — | No KYC on a DEX | Authorised · ACPR (France) Circle Internet Financial Europe SAS source | Ethereum / Hyperliquid L1 / Solana (+154) |
| USDT Tether | Tether | No yield | — | No KYC on a DEX | Not authorisedsource | Tron / Ethereum / BSC (+127) |
Side by side
| USDG | USDC | USDT | |
|---|---|---|---|
| Liquidity | Traded on public markets — venues not verified | Traded on public markets — venues not verified | Traded on public markets — venues not verified |
| KYC to mint with the issuer | KYC required | KYC required | KYC required |
| KYC to buy on a market | No KYC | No KYC | No KYC |
| KYC to redeem | KYC required | KYC required | KYC required |
| Assets under management | $3,020,156,642 circulating | $72,656,933,418 circulating | $183,360,958,165 circulating |
| Jurisdiction | United States | United States | United States |
| How to buy | On exchanges (KYC there) or on a DEX with a self-custody wallet (no KYC). Minting and redeeming with Paxos needs an institutional account. | On any exchange (KYC there) or on a DEX with a self-custody wallet (no KYC). Minting and redeeming 1:1 runs through Circle Mint, which is open to approved institutions only. | On any exchange (KYC there) or on a DEX with a self-custody wallet (no KYC). Minting and redeeming directly with Tether needs a verified account and is aimed at large amounts. |
More questions
Which is the largest?
By size, USDT at $183.4B, followed by USDC at $72.7B and USDG at $3.0B. Size is not safety, but a larger product usually means a deeper market to sell into.