Mantle has launched native support for USDG, the stablecoin issued by Paxos, and joined the Global Dollar Network as a partner, according to a Thursday announcement. The rollout brings USDG live natively on the Ethereum layer-2 network.
The integration makes USDG one of the first stablecoins to be natively minted on Mantle. It also places Mantle inside USDG’s reward-sharing structure. As a partner, Mantle can receive a portion of the rewards generated by USDG activity, joining a network of more than 150 partners that includes Kraken and Robinhood.
USDG market cap stands at about $3.18 billion
Data from DefiLlama puts USDG’s market capitalization at roughly $3.18 billion, which makes it the seventh-largest stablecoin tracked by the platform. The token is issued by Paxos and operates under regulatory frameworks in Singapore and the European Union. Paxos also publishes monthly reports on the reserves backing the stablecoin.
Mantle expands its stablecoin lineup
USDG joins other stablecoins already available on Mantle, including Agora’s AUSD, Ethena’s USDe and Tether’s USDT0. Mantle said the token will be used across its ecosystem for DeFi applications and institutional capital allocation.
RWA activity on Mantle has also increased
Mantle has also posted recent growth in tokenized real-world assets. According to RWA.xyz, the network had $234.2 million in distributed RWA value as of Wednesday, up 19% over the previous 30 days.