Arbitrum joins Paxos-led stablecoin group Global Dollar to capture digital dollar growth
The Ethereum layer-2 is backing Paxos-issued USDG to earn a share of reserve income as new stablecoin alliances compete for distribution, users and reserve economics.
Paxos' USDG stablecoin has become operational on Arbitrum, as the blockchain joins the Global Dollar Network. Paxos-issued Global Dollar (USDG) stablecoin went live on Arbitrum One, integrating with decentralized finance protocols like Fluid, Morpho, GMX, and Maple. Kraken will facilitate deposits and withdrawals, while Stargate will enable transfers between Arbitrum and other blockchains.
ArbitrumDAO's proposal aims to make USDG growth a strategic objective, adding 100 million ARB to the incentive program to boost adoption. The stablecoin's launch comes as Arbitrum broadens its scope beyond crypto-native applications, becoming infrastructure for financial platforms bringing traditional assets onto the blockchain.
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- Paxos’ $3B USDG stablecoin launches on Arbitrum cointelegraph.com
