Mantle has integrated $USDG — the stablecoin from Paxos. It has become one of the first stablecoins to be issued on the Mantle network. Mantle has also joined the Global Dollar Network (GDN) as a network partner. Currently, GDN has over 150 partners, and the circulation volume of $USDG exceeds $3 billion.
Mantle is an open financial network that helps transfer institutional assets onto the blockchain. Paxos is a regulated company developing blockchain infrastructure for stablecoins and digital assets. The Global Dollar Network unites participants who promote the use of regulated dollar-based assets.
As part of the partnership, Mantle will also join the GDN rewards distribution program. Partners receive payouts based on how much they contribute to the spread and usage of $USDG. Other participants in the program include Robinhood and Kraken.
$USDG will join Mantle's stablecoin infrastructure alongside AUSD from Agora, USDe from Ethena, USDY from Ondo, and USDT0 from Tether. According to Mantle, the total value locked (TVL) in the network's stablecoins has reached $982 million. The RWA volume has grown from approximately $22 million to $240 million over the past year.
$USDG is backed by Paxos reserves and is issued under the supervision of regulators in Singapore and the European Union.
Image: Magnific
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