The Paxos-issued stablecoin USDG has launched natively on Mantle, an Ethereum layer-2 network, following a Thursday announcement that also named Mantle as a partner in the Global Dollar Network.
Through this integration, USDG becomes one of the first stablecoins to be natively minted on the Mantle network. As a Global Dollar Network partner, Mantle enters USDG's reward-sharing structure, enabling the network to receive a share of rewards generated by USDG activity. Mantle joins a partner network that includes more than 150 entities, such as Kraken and Robinhood.
USDG currently holds a market capitalization of approximately $3.18 billion, positioning it as the seventh-largest stablecoin tracked by DefiLlama. The asset is issued by Paxos under regulatory frameworks in Singapore and the European Union, with monthly reserve reports published by Paxos.
On the Mantle network, USDG joins existing stablecoins including Agora’s AUSD, Ethena’s USDe, and Tether’s USDT0. According to Mantle, USDG will see utilization across its ecosystem for decentralized finance (DeFi) applications and institutional capital allocation.
Additionally, Mantle has experienced recent expansion in tokenized real-world assets (RWAs). Data from RWA.xyz indicates that the network recorded $234.2 million in distributed RWA value as of Wednesday, marking a 19% increase over a 30-day period.
