Mantle integrated Paxos-issued USDG as a natively minted stablecoin and joined the Global Dollar Network, gaining a share of rewards from a 150+ partner ecosystem.
Stablecoin & Layer-2 News
Paxos-issued stablecoin Global Dollar (USDG) has gone live on Mantle, the Ethereum layer-2 network, marking one of the first stablecoins to be natively minted on the platform. The integration was announced on Sept. 3 and also brings Mantle into the Global Dollar Network as an official partner.
Joining the Global Dollar Network means Mantle now participates in the network's reward-sharing structure. The network distributes a portion of revenue generated by USDG activity among its partners. Mantle joins more than 150 existing partners in that structure, a group that includes crypto exchange Kraken and retail investment platform Robinhood.
USDG Enters a Multi-Stablecoin Ecosystem
Mantle already hosts several stablecoins, including Agora's AUSD, Ethena's USDe, and Tether's USDT0. USDG will be used across Mantle's ecosystem for decentralized finance (DeFi) applications and institutional capital allocation, the network said. The native minting structure means USDG is issued directly on Mantle rather than bridged from another chain, which reduces friction for users and protocols operating within the ecosystem.
USDG carries a market capitalization of approximately $3.18 billion, making it the seventh-largest stablecoin by that measure, according to DefiLlama data. Paxos issues the stablecoin and operates it under regulatory frameworks in both Singapore and the European Union. The company publishes monthly reserve reports covering the assets backing USDG.
Related Article: What Are Stablechains? Why Stablecoin Issuers Are Building Blockchains
Mantle RWA Value Climbs 19% in 30 Days
The USDG integration comes as Mantle records growth in its broader digital asset ecosystem. The network held $234.2 million in distributed real-world asset (RWA) value as of Sept. 3, according to data from RWA(dot)xyz. That figure represents a 19% increase over the prior 30 days, reflecting rising demand for tokenized assets on the platform.
The combination of a growing RWA base and the addition of a regulated, widely distributed stablecoin like USDG points to Mantle's push to attract both retail DeFi users and institutional participants. Paxos's compliance structure, including its dual regulatory oversight and transparent reserve reporting, makes USDG a stablecoin that institutional capital allocators can engage with under clear legal frameworks. The Global Dollar Network's expanding partner base adds further distribution infrastructure for USDG as it grows on Mantle.
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