Paxos' Singapore-issued compliance stablecoin, USDG, is backed by a number of crypto businesses including Robinhood, Kraken, and Galaxy Digital. The stablecoin is compliant with Singapore's upcoming stablecoin framework, and the proceeds from reserve assets will be distributed to partners on a contribution basis to drive the adoption and ecosystem of USDG. Partners such as Anchorage provide USDG in all 50 US states, while DBS Bank is responsible for the fund management and custody of its reserves.