Mantle adds Paxos’ USDG stablecoin and joins Global Dollar Network
Mantle, an Ethereum layer-2 network, has added Paxos’ USDG stablecoin as a natively minted option on its platform. The move also makes Mantle a partner in the Global Dollar Network, a system that shares rewards generated by USDG activity.
A stablecoin is a type of cryptocurrency designed to hold a steady value, often tied to a traditional currency like the US dollar. USDG is issued by Paxos and operates under regulatory frameworks in Singapore and the European Union, with Paxos publishing monthly reports on its reserves.
Key details
- USDG is now natively minted on Mantle, meaning it is created directly on the network rather than bridged from another chain.
- Mantle joins over 150 partners in the Global Dollar Network, including Kraken and Robinhood, and can earn a share of rewards from USDG activity.
- USDG has a market capitalization of about $3.18 billion, making it the seventh-largest stablecoin tracked by DefiLlama.
- Mantle already supports other stablecoins, including Agora’s AUSD, Ethena’s USDe, and Tether’s USDT0.
- The network has seen growth in tokenized real-world assets, with $234.2 million in distributed value as of September 2, up 19% over the past 30 days.
Why this matters
The integration expands Mantle’s stablecoin options and connects it to a broader reward-sharing ecosystem. It also strengthens USDG’s presence across multiple blockchain networks, increasing its utility for decentralized finance (DeFi) and institutional use.
