Paxos' USDG Surpasses $929M in DeFi Deposits

Paxos' Global Dollar stablecoin (USDG) has reached $929.2 million in deposits across various decentralized finance (DeFi) platforms, a milestone that puts it among rare company for stablecoins with on-chain lending presence.

This achievement comes just over a year after USDG launched in November 2024 and is a testament to its growing adoption in the DeFi space. With a total circulation of over $3 billion, roughly a third of all USDG in existence is currently deployed in DeFi venues where it generates yield and provides utility.

The token's success can be attributed to its unique revenue-sharing model, which distributes economic benefits to network partners rather than keeping all the yield for the issuer. This structure has attracted over 150 partners to The Global Dollar Network, with tens of millions in rewards distributed to participants.