Global Dollar (USDG), the stablecoin issued by Paxos, is set to go live in the DeFi ecosystem on Ethereum layer-2 network Arbitrum. The rollout will cover Morpho, GMX, Fluid and Maple, while Kraken will handle fiat on- and off-ramps. Arbitrum is seeking to capture part of the economic value generated by stablecoins circulating on its network. According to the report, Arbitrum currently holds about $3.8 billion in stablecoins, with roughly 60% of that total made up of USDC issued by Circle. The CoinDesk-cited update also points to a broader rise in stablecoin alliances. OpenUSD has backing from Mastercard, Visa, Stripe, Coinbase and Shopify, while Qivalis is supported by 37 European banks.
Global Dollar (USDG), the stablecoin issued by Paxos, will launch in the DeFi ecosystem of Arbitrum, the Ethereum layer-2 network, according to an Odaily report citing CoinDesk. The rollout will include Morpho, GMX, Fluid and Maple, while Kraken will provide fiat on- and off-ramp services.
Arbitrum is aiming to capture part of the economic value generated by stablecoins on its network. The network currently holds about $3.8 billion in stablecoins, and around 60% of that amount is USDC issued by Circle.
Stablecoin alliances are expanding
The report said stablecoin alliances are increasing. OpenUSD is backed by Mastercard, Visa, Stripe, Coinbase and Shopify, while Qivalis has support from 37 European banks.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
