Paxos has officially launched its Global Dollar (USDG) stablecoin on the Arbitrum One network. The asset is now integrated with several decentralized finance protocols, including Fluid, Morpho, GMX, and Maple. Users can manage deposits and withdrawals through Kraken, while Stargate facilitates cross-chain transfers.
The ArbitrumDAO is currently reviewing a proposal to designate USDG growth as a strategic objective. The plan includes allocating 100 million ARB tokens to an incentive program designed to boost adoption. Additionally, the proposal suggests utilizing Arbitrum treasury assets to provide liquidity for the stablecoin.
As part of the Global Dollar Network, Arbitrum will receive a portion of the rewards generated by USDG activity. These funds are intended to support further ecosystem development. According to the Arbitrum Foundation, the network currently holds approximately $4 billion in total stablecoin value.
Data from DeFiLlama indicates that USDG is the seventh-largest stablecoin by market capitalization, with roughly $3.09 billion in circulation. While its supply is primarily concentrated on X Layer, Robinhood Chain, and Solana, the integration with Arbitrum marks a strategic move to support traditional financial platforms moving assets on-chain.
