Mantle, the Ethereum layer-2 network, has added Paxos' stablecoin Global Dollar (USDG) natively to its platform. The integration, announced on Sept. 3, makes USDG one of the first stablecoins to be minted directly on Mantle, rather than bridged from another chain. This move also brings Mantle into the Global Dollar Network as an official partner, allowing it to participate in the network's revenue-sharing structure.
USDG joins a growing list of stablecoins on Mantle, including AUSD, USDe, and USDT0. The stablecoin will be used for decentralized finance (DeFi) applications and institutional capital allocation within the ecosystem. With a market capitalization of approximately $3.18 billion, USDG is the seventh-largest stablecoin by that measure, according to DefiLlama data.
The integration comes as Mantle's broader digital asset ecosystem shows signs of growth. The network held $234.2 million in distributed real-world asset (RWA) value as of Sept. 3, representing a 19% increase over the prior 30 days. This growth, combined with the addition of a regulated stablecoin like USDG, highlights Mantle's efforts to attract both retail DeFi users and institutional participants.
Paxos, which issues USDG, operates under regulatory frameworks in Singapore and the European Union. The company publishes monthly reserve reports covering the assets backing USDG, providing transparency and compliance that institutional capital allocators can engage with under clear legal frameworks.