Mantle launches USDG and joins Global Dollar Network

The Ethereum Layer 2 network Mantle has launched the stablecoin USDG issued by Paxos and joined the Global Dollar Network as a partner. USDG has become one of Mantle's first stablecoins minted natively, and Mantle can receive partial rewards generated by USDG activities. The market value of USDG is approximately 3.18 billion US dollars, making it the seventh largest stablecoin in terms of scale. This stablecoin is issued by Paxos and follows the regulatory frameworks of Singapore and the European Union. Paxos releases monthly reserve reports. Mantle Ecology provides Agora's AUSD, Ethena's USDe, and Tether's USDT0. USDG will be used for DeFi applications and institutional capital allocation within the ecosystem. As of Wednesday, the value of Mantle's distributed real-world assets was $234.2 million, an increase of 19% over the past 30 days.