The market capitalization of Paxos's USDG stablecoin on the Arbitrum One network increased by $10.2 million in 24 hours, reaching a total of $31.2 million. Paxos officially launched the token natively on the network on October 6, 2026.
The rollout includes integrations with several decentralized finance protocols. Fluid supports trading, Morpho provides lending services, GMX handles deposits, and Maple offers yield products. These integrations are part of the Global Dollar Network partner framework.
While USDG holds a total circulating supply exceeding $3.2 billion, making it the seventh-largest stablecoin, its presence on Arbitrum currently accounts for less than 1% of the network's estimated $4 billion stablecoin base.
The stablecoin is backed 1:1 by US dollar reserves with monthly attestations. Under the Global Dollar Network model, revenue from reserve yields is shared with distribution partners, allowing platforms like Arbitrum to earn income from user activity.
ArbitrumDAO is currently considering a proposal to allocate 100 million ARB tokens to incentivize liquidity and adoption of USDG within the Arbitrum ecosystem.
