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BackPaxos' USDG Stablecoin Launches Natively on Mantle Network
Paxos' USDG Stablecoin Launches Natively on Mantle Network
Developing
Cointelegraph52 minutes agoBusiness1 min read

Paxos' USDG Stablecoin Launches Natively on Mantle Network

paxosusdgmantle

Quick Look

  • Paxos-issued stablecoin USDG has launched natively on the Mantle Ethereum layer-2 network, joining the Global Dollar Network as a partner.
  • The integration allows Mantle to receive a share of rewards from USDG activity, with USDG having a $3.18 billion market cap and being the seventh-largest stablecoin per DefiLlama.
  • USDG operates under regulatory frameworks in Singapore and the EU, with monthly reserve reports published by Paxos.

AI-generated summary

Why It Matters

USDG is a regulated stablecoin issued by Paxos, operating under frameworks in Singapore and the European Union, with monthly reserve transparency. Mantle is an Ethereum layer-2 network focused on DeFi and institutional use cases, with growing adoption in tokenized real-world assets.

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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.

What to Watch

AI outlook — possibilities, not facts

  • USDG will see increased adoption in Mantle-based DeFi protocols for lending and liquidity provision.

    Likely · Within months

  • Mantle's reward-sharing income from USDG activity will grow as network usage increases.

    Possible · Within months

Open Questions

  • What specific DeFi applications on Mantle will integrate USDG?
  • How will the reward-sharing mechanism between Paxos and Mantle be structured?
  • What is the timeline for broader institutional adoption of USDG on Mantle?

Related Topics

paxos
OrganizationsPaxosMantleGlobal Dollar NetworkDefiLlama
PlacesSingaporeEuropean Union
Topicsusdgmantlestablecoinglobal dollar networkdefillamasingapore
This article was originally published by Cointelegraph.

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