Mantle adds Paxos’ USDG stablecoin, joins Global Dollar Network

Paxos-issued stablecoin USDG has launched natively on Mantle, with the Ethereum layer-2 network joining the Global Dollar Network as a partner, according to a Thursday announcement.

The integration makes USDG one of the first stablecoins to be natively minted on Mantle and brings the network into USDG’s reward-sharing structure. As a partner, Mantle can receive a share of the rewards generated by USDG activity, joining a network of more than 150 partners, including Kraken and Robinhood.

USDG has a market capitalization of about $3.18 billion, making it the seventh-largest stablecoin tracked by DefiLlama. The stablecoin is issued by Paxos and operates under regulatory frameworks in Singapore and the European Union, with Paxos publishing monthly reports on its reserves.

Top 10 stablecoins by market cap. Source: DefiLlama

USDG joins several other stablecoins available on Mantle, including Agora’s AUSD, Ethena’s USDe and Tether’s USDT0. Mantle said USDG will be used across its ecosystem for DeFi applications and institutional capital allocation.

Mantle has also seen recent growth in tokenized real-world assets (RWA). The network had $234.2 million in distributed RWA value as of Wednesday, up 19% over the past 30 days, according to RWA.xyz data.

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