Aracore, a U.S. subsidiary of blockchain and AI company BPMG, said on Sept. 18 it has joined the Paxos-led Global Dollar Network (GDN) as a partner.

Aracore plans to build institutional digital finance infrastructure based on multiple stablecoins, including USDG, through its participation in GDN.

GDN is a global network aimed at expanding the use of the U.S. dollar-based stablecoin Global Dollar (USDG) and promoting broader stablecoin adoption. More than 150 institutions in finance, payments and digital assets are participating, including Mastercard, Kraken, Robinhood, Worldpay and OKX.

Aracore plans to link stablecoins with institutional financial networks using its in-house Institutional Settlement Network (ISN).

Based on partnerships with South Korean internet-only bank K Bank, Hong Kong digital asset financial group HashKey and Canadian payments company VirgoPAY, it plans to broaden its institutional network and expand cross-border remittance, payment and settlement businesses for financial institutions and companies.

Aracore Chief Executive Cha Ji-hoon (차지훈) said, "Aracore is building institutional infrastructure that is not limited to a specific stablecoin, connecting global financial institutions with various digital dollar ecosystems." He added, "Participation in GDN will serve as a foundation for connecting the USDG ecosystem with Aracore's global institutional network."