USDG launches natively on Mantle

Paxos has enabled its USDG stablecoin to be minted and redeemed directly on Mantle, an Ethereum‑compatible layer‑2 network. The launch expands the Global Dollar Network’s partner base and provides a native dollar‑linked asset for Mantle’s DeFi and institutional applications.

Native issuance on Mantle

USDG can now be created on Mantle without using a wrapped version or third‑party bridge. Paxos issues and redeems each token one‑to‑one with U.S. dollars, and the stablecoin is already available on Ethereum, Solana, Ink, X Layer and Robinhood Chain.

Impact on Mantle’s ecosystem

Mantle joins the Global Dollar Network, a coalition of more than 150 partners that share rewards generated by USDG activity. The network’s reward‑sharing model allocates income based on each participant’s role and commercial agreement.

At the time of the announcement, USDG’s circulating supply was reported at roughly $3.18 billion, ranking it seventh among stablecoins tracked by DefiLlama. Mantle’s distributed real‑world asset (RWA) value was reported at $234.2 million, up 19 % over the prior 30 days.

Broader tokenized asset landscape on Mantle

Mantle’s tokenized asset portfolio now exceeds 700 products, including equities, ETFs, commodities, U.S. Treasuries and credit assets. Recent additions feature a SpaceX‑linked token (SPCXx) and a Franklin Templeton U.S. Equity Index ETF token (USPXx). Stablecoin options on Mantle now include USDT0, USDe, USDC, and the newly added USDG.

Regulatory context

USDG is issued under supervision of the Monetary Authority of Singapore and, in the EU, under Finland’s Financial Supervisory Authority in compliance with MiCA. While USDG’s dollar peg is maintained, access to specific Mantle applications and tokenized securities remains subject to issuer terms and applicable U.S. federal and state regulations.