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USDG The USDG stablecoin issued by Paxos has been natively launched on Mantle, and the Ethereum Layer 2 network has joined the Global Dollar Network as a partner, according to an announcement released on Thursday.
This integration makes USDG one of the first stablecoins to be natively minted on Mantle, and incorporates Mantle into USDG's reward sharing mechanism. As a partner, Mantle receives some of the rewards generated by USDG activities and participates with more than 150 partners, including Kraken and Robinhood.
USDG has a market value of approximately US$3.18 billion and is the seventh largest stablecoin tracked by DefiLlama. The stablecoin is issued by Paxos and operates under the regulatory framework of Singapore and the European Union, and Paxos publishes monthly reports on its reserves.
Top ten stablecoins by market capitalisation.
USDG joins several other stablecoins already available on Mantle, including Agora's AUSD, Ethena's USDe, and Tether's USDT0. Mantle said USDG will be used for DeFi applications and institutional capital allocation in its ecosystem.
Mantle has also recently seen growth in tokenized real-world assets (RWA). As of Wednesday, the network's distributed RWA was worth $234.2 million, a 19% increase in the past 30 days.
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