Mantle Integrates Paxos' $3.18B Stablecoin, Joins Global Dollar Network
Mantle, an Ethereum layer-2 network, has integrated Paxos' USDG stablecoin into its ecosystem. This move makes USDG one of the first stablecoins to be natively minted on Mantle and brings the network into USDG's reward-sharing structure.
The integration also allows Mantle to receive a share of the rewards generated by USDG activity, joining over 150 partners, including Kraken and Robinhood. Paxos' USDG has a market capitalization of around $3.18 billion, making it the seventh-largest stablecoin tracked by DefiLlama.
Mantle's ecosystem will use USDG for DeFi applications and institutional capital allocation. The network has seen recent growth in tokenized real-world assets (RWA), with a distributed RWA value of $234.2 million as of Wednesday, up 19% over the past 30 days.