USDG stablecoin goes live on Arbitrum One
Global Dollar (USDG) — the dollar stablecoin issued by Paxos and regulated in Singapore and the EU — has launched on Arbitrum One, with Fluid, Morpho, GMX, Maple, Uniswap and Kraken among the first integrations. Arbitrum joins the Global Dollar Network, whose 150+ partners include Bullish, Kraken, Mastercard, OKX, Paxos and Robinhood.
The launch follows a year-long stablecoin strategy by Entropy Advisors, Offchain Labs, the Arbitrum Foundation and Arbitrum OpCo. It arrives with $10M+ in incentives through the DRIP program and a proposal before the ArbitrumDAO to commit 100M ARB plus treasury assets to USDG growth. USDG already has $3B+ in circulation across networks, while about $4B in stablecoins sit on Arbitrum.
- Kraken supports USDG deposits/withdrawals on Arbitrum One; Stargate (LayerZero) and LI.FI handle bridging
- The Gauntlet USDG Premium vault is live on Morpho, with a Steakhouse-curated vault to follow
- The Foundation is taking applications for its USDG on Arbitrum integration-support program
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