Mantle Adds Paxos’s USDG, Joins Global Dollar Network

Ethereum layer-2 network Mantle has added Paxos’s dollar-pegged stablecoin USDG to its network and joined the Global Dollar Network.

Cointelegraph reported on September 3 that Mantle has started supporting the native issuance and circulation of USDG on its network. USDG is set to become one of the major stablecoins with native support on Mantle.

As part of the Global Dollar Network, Mantle will receive a share of revenue generated from USDG usage on the network. More than 150 companies and platforms, including Kraken and Robinhood, participate in the Global Dollar Network.

USDG is a dollar-pegged stablecoin issued by Paxos with a market capitalization of about $3.18 billion. It ranks seventh among stablecoins by market value, according to DefiLlama. Paxos issues USDG under regulatory frameworks in Singapore and the European Union and publishes its reserve holdings every month.

Mantle already supports a range of stablecoins, including Agora’s AUSD, Ethena’s USDe and Tether’s USDT0. The network plans to use USDG across decentralized finance services and institutional treasury management.

Mantle’s real-world asset tokenization segment is also expanding. According to RWA.xyz, the value of tokenized real-world assets on the Mantle network rose 19% over the past 30 days to $234.2 million.