Mantle adds Paxos’ USDG stablecoin, joins Global Dollar Network
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
The Ethereum layer-2 network Mantle has launched the Paxos-issued stablecoin USDG natively on its platform and joined the Global Dollar Network as a partner. This partnership allows Mantle to participate in USDG's reward-sharing system and become part of a network that includes over 150 partners such as Kraken and Robinhood.
Why it matters
The integration positions USDG as one of the first stablecoins natively minted on Mantle, enabling its use across Mantle’s DeFi applications and institutional capital allocation. The source does not explicitly state further market or policy impacts.
Key context
USDG, with a market capitalization of about $3.18 billion making it the seventh-largest stablecoin tracked by DefiLlama, operates under regulatory frameworks in Singapore and the EU and publishes monthly reserve reports. Mantle also supports other stablecoins like Agora’s AUSD, Ethena’s USDe, and Tether’s USDT and has recently experienced a 19% growth in tokenized real-world asset value, reaching $234.2 million.
Key numbers and entities
Mantle, Paxos, USDG stablecoin, Global Dollar Network, Kraken, Robinhood, DefiLlama, Agora’s AUSD, Ethena’s USDe, Tether’s USDT, $3.18 billion market cap (USDG), $234.2 million in Mantle distributed RWA value.
What remains unclear
The source does not specify how the reward-sharing mechanism quantitatively benefits Mantle or detail specific uses of USDG within Mantle’s ecosystem beyond general mentions of DeFi and institutional capital allocation.