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Paxos launches USDG stablecoin on Arbitrum with proposed 100 million ARB incentives

Paxos has launched its USDG stablecoin on Arbitrum One using LayerZero's OFT standard, backed by a proposed 100 million ARB incentive program to drive liquidity and decentralized finance adoption.

Illustration showing the glowing blue Arbitrum logo surrounded by the USDG logo and abstract graphic elements
Image: @arbitrum

Paxos has officially deployed its Global Dollar (USDG) stablecoin on Arbitrum One using LayerZero's Omnichain Fungible Token standard, Arbitrum and BSCNews announced. Described by CoinTelegraph as a $3 billion stablecoin, USDG's arrival is paired with a network proposal allocating 100 million ARB in incentives to spur liquidity and user adoption.[1][2][5][6]

By joining the Paxos-led Global Dollar Network, Arbitrum connects directly to founding partners such as Robinhood, Kraken, and OKX. The Ethereum layer-2 network is adopting USDG to capture a share of reserve income as emerging stablecoin consortia contend for market share, distribution, and reserves, CoinDesk reported. The Arbitrum Foundation plans to establish USDG as a core settlement asset across automated market makers and lending protocols using partner programs and protocol-level integrations.[1][3][4][5]

The integration coincides with sharp market momentum for LayerZero. BSCNews reported that LayerZero's ZRO token gained 34.4% over the week at the time of writing, outpacing all major cryptocurrencies aside from Midnight Network.[2]

Key facts

  • Paxos launched the Global Dollar (USDG) stablecoin on Arbitrum One using LayerZero's OFT standard.
  • Arbitrum proposed 100 million ARB in incentives to support USDG adoption and liquidity, according to CoinTelegraph.
  • CoinTelegraph identified USDG as a $3 billion stablecoin.
  • Joining the Global Dollar Network connects Arbitrum with partners including Robinhood, Kraken, and OKX.
  • Arbitrum joined the Paxos-led group to earn a share of USDG reserve income, per CoinDesk.
  • LayerZero's ZRO token was up 34.4% on the week around the time of the announcement, trailing only Midnight Network among major tokens, according to BSCNews.

Sources · 5 sources

  1. BS

    BSCN@BSCNewsPost on X ·

    Paxos Launches Global Dollar USDG) on Arbitrum @Paxos officially launched the Global Dollar ($USDG) stablecoin on @Arbitrum One, integrating Arbitrum rollup technology into the GDN ecosystem. The integration enables seamless linking of Arbitrum liquidity pools to key GDN founding partners such as @RobinhoodApp, @krakenfx, and @OKX. The Arbitrum Foundation plans to establish Global Dollar ($USDG) as a core settlement token in native automated market makers and lending platforms through incentives and liquidity programs.

    Open source
  2. BS

    BSCN@BSCNewsPost on X ·

    LayerZero winning big this week. At time of writing @LayerZero_Core's $ZRO token is up a staggering +34.4% on the week, outpacing all crypto majors aside from @MidnightNtwrk. More recently, @arbitrum has just announced that @Paxos' $USDG stablecoin is now live on its chain through LayerZero's OFT standard.

    Open source
  3. CB

    Crypto BriefingArticle ·

    Arbitrum adopts Paxos’ USDG as ecosystem dollar with DeFi support Arbitrum's adoption of USDG could enhance DeFi liquidity and stability, fostering broader ecosystem growth and increased user engagement. The post Arbitrum adopts Paxos’ USDG as ecosystem dollar with DeFi support appeared first on Crypto Briefing .

    Open source
  4. CO

    CoindeskArticle ·

    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.

    Open source
  5. AR

    Arbitrum@arbitrumPost on X ·

    $USDG from @Paxos is now live on Arbitrum. Joining the Global Dollar Network brings Arbitrum closer to GDN members like @RobinhoodApp, @krakenfx, @OKX and more. We'll grow $USDG as a core asset on Arbitrum One through partner incentives and protocol-level integrations. 🧵 https://t.co/2m9YkHbdGi

    Open source
  6. CT

    Coin TelegraphArticle ·

    Paxos’ $3B USDG stablecoin launches on Arbitrum Paxos’ USDG stablecoin is now live on Arbitrum as the network proposes 100 million ARB in incentives to support adoption and liquidity.

    Open source