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USDG goes native on Mantle
Paxos-issued USDG launched natively on Mantle, with the Ethereum layer-2 network joining the Global Dollar Network as a partner, according to a Thursday announcement.
“USDG has launched natively on Mantle”
The integration makes USDG one of the first stablecoins to be natively minted on Mantle, allowing the token to enter circulation without relying on a wrapped version created through a third-party bridge.
USDG can now be minted directly on Mantle and used for DeFi liquidity and institutional settlement, while Paxos says each token is redeemable one-to-one for U.S. dollars.
DefiLlama data cited in the coverage put USDG at about $3.18 billion in circulation, ranking seventh among stablecoins tracked by DefiLlama.
Mantle’s distributed RWA value reached $234.2 million after rising 19% over 30 days, as RWA.xyz data was used to describe the network’s tokenized-asset momentum.
Reward-sharing and partners
Mantle’s entry into the Global Dollar Network places it inside a reward-sharing structure where participating companies can receive part of the income generated by assets backing USDG.
The Global Dollar Network was described as having more than 150 partners, including Kraken and Robinhood, and the integration was framed as a way for Mantle to receive a share of rewards generated by USDG activity.
Paxos publishes monthly reserve reports covering the assets backing USDG, and the coverage says the stablecoin is fully backed by reserves and can be redeemed at par.
In the PR Newswire account of the announcement, Mantle’s network partner status was tied to USDG circulation climbing past $3.5 billion and to dual regulatory oversight under Singapore’s Monetary Authority (MAS) and the EU’s MiCA framework.
The PR Newswire release also quoted Emily Bao, Key Advisor at Mantle and Head of Spot at Bybit, saying: "Joining Global Dollar Network and bringing USDG onto Mantle puts us inside a more active economic system."
RWA stack and institutional use
The Mantle integration was presented as expanding the network’s tokenized-asset business, with Mantle adding tokenized equities, exchange-traded funds, commodities, U.S. Treasuries and asset-backed credit products.
“Mantle's stablecoin TVL crossed $982M”
Coverage tied USDG to Mantle’s institutional-grade stack, saying USDG will be used across its ecosystem for DeFi applications and institutional capital allocation.
The PR Newswire release said Mantle’s stablecoin TVL crossed $982M and that RWA TVL grew from roughly $22 million to approximately $240 million over the past year, alongside tokenized assets expanding to over 700 and counting.
Cointelegraph’s account also said Mantle will use USDG across its ecosystem for DeFi applications and institutional capital allocation, while noting the network’s distributed RWA value of $234.2 million as of Wednesday.
In the same Cointelegraph framing, Paxos-issued USDG was described as operating under regulatory frameworks in Singapore and the European Union, with Paxos publishing monthly reports on its reserves.