Mantle has added Paxos-issued stablecoin USDG as a native asset on its Ethereum layer-2 network, while also joining the Global Dollar Network as a partner. The move places Mantle inside the stablecoin network’s reward-sharing model and expands the set of dollar-pegged assets minted directly on the chain.

USDG is one of the first stablecoins to be natively minted on Mantle, according to the announcement. Mantle said the token is intended for use across its ecosystem, including decentralized finance applications and institutional capital allocation.

Mantle enters USDG partner network

By joining the Global Dollar Network, Mantle becomes one of more than 150 partners connected to the USDG ecosystem. The partner list includes companies such as Kraken and Robinhood.

The arrangement means Mantle is eligible to receive a share of rewards generated by activity involving USDG. The source article did not specify how those rewards are calculated or when distributions may begin.

USDG’s current scale and issuer

USDG has a market capitalization of about $3.18 billion, which makes it the seventh-largest stablecoin tracked by DefiLlama, according to the report.

The stablecoin is issued by Paxos. It operates under regulatory frameworks in Singapore and the European Union, and Paxos publishes monthly reports on the reserves backing the token.

What Mantle says USDG will be used for

Mantle said the native launch is aimed at supporting activity across its onchain economy. In particular, the network pointed to DeFi use cases and institutional capital allocation as areas where USDG is expected to be deployed.

Having a stablecoin minted directly on the network can simplify access for users and protocols compared with relying solely on bridged assets, although the source article did not provide technical details about the integration.

RWA growth provides broader backdrop

The USDG addition comes as Mantle has also been posting growth in tokenized real-world assets on the network. Data from RWA.xyz cited in the report showed Mantle with $234.2 million in distributed RWA value as of Wednesday.

That figure was up 19% over the previous 30 days. The latest stablecoin integration adds another piece of infrastructure Mantle says it plans to use across both its DeFi activity and more institutionally focused capital flows.

Source: cointelegraph.com