Paxos has launched the USDG stablecoin natively on Mantle, marking a significant development for the Ethereum layer-2 solution. The rollout was announced on Thursday, making USDG one of the earliest stablecoins to be minted directly on the Mantle network.
Integration with Mantle and reward-sharing
By joining the Global Dollar Network as a partner, Mantle now participates in USDG’s reward-sharing system. This partnership allows Mantle to receive a portion of the rewards derived from activities involving USDG on its platform. Mantle joins an ecosystem of over 150 partners, which includes prominent industry players such as Kraken and Robinhood.
USDG is now listed alongside several other stablecoins available on Mantle, including Agora’s AUSD, Ethena’s USDe, and Tether’s USDT0. Mantle representatives stated that USDG will serve various purposes across their ecosystem, supporting decentralized finance applications and institutional portfolio strategies.
With this integration, Mantle stands among the first networks to support native minting of USDG and is now part of a collaborative ecosystem that shares in the growth and rewards from USDG usage.
USDG’s market position and compliance
USDG maintains a market capitalization of around $3.18 billion, ranking as the seventh-largest stablecoin according to DefiLlama data. The asset is issued by Paxos, a blockchain infrastructure company known for regulatory compliance, particularly in Singapore and the European Union.
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AAPLPaxos provides monthly disclosures about USDG’s reserves, aiming to ensure transparency for users and partners. The presence of established partners in the network, combined with these regulatory safeguards, positions USDG as a reliable option for various financial applications on Mantle.
Mini dictionary: Paxos is a US-based blockchain infrastructure provider that issues regulated digital assets, including stablecoins, and publishes reserve attestations monthly to verify backing and compliance.
| Stablecoin | Market Cap | Issuer | Network Availability |
|---|---|---|---|
| USDG | $3.18 billion | Paxos | Mantle, others |
| AUSD | Not specified | Agora | Mantle |
| USDe | Not specified | Ethena | Mantle |
| USDT0 | Not specified | Tether | Mantle |
Growth in real-world asset tokenization
Mantle has reported rising activity in tokenized real-world assets (RWA). As of Wednesday, the network had distributed $234.2 million in RWA value, reflecting a 19% increase over the past month. Data for this sector was provided by RWA.xyz, a platform tracking tokenized asset growth across blockchain networks.
These developments suggest that Mantle is strengthening its position as a destination for both stablecoin traffic and tokenized assets. The addition of USDG expands the suite of stablecoins on Mantle and broadens its usage scenarios for DeFi applications and institutional investors.
