Mantle Joins Global Dollar Network as USDG Circulation Surpasses $3B Across 150+ Partners
DUBAI, UAE, Sept. 3, 2026 /PRNewswire/ — Mantle, the open financial network connecting global market participants to institutional-grade capital market assets on-chain, today announced that USDG, the dollar-pegged stablecoin issued by Paxos, is now live on Mantle as one of the first natively minted stablecoins on the network. The integration makes Mantle a Network Partner for the Global Dollar Network (GDN), which has grown to more than 150 partners with over $3 billion of USDG in circulation.
Joining the Reward-Sharing Economy
Most stablecoin integrations follow the same pattern: a chain adds an asset, the issuer retains the economics, and the relationship ends there. Mantle’s entry into GDN works differently. Joining as a Network Participant puts Mantle inside GDN’s reward sharing structure directly, standing alongside more than 150 partners, including Robinhood and Kraken, in a system built to share rewards with the partners who drive adoption.
USDG’s growth reflects the scale of that system. Circulation has climbed past $3.5 billion, making it one of the largest regulated dollar stablecoins in the market, and among the very few operating under dual regulatory oversight from Singapore’s Monetary Authority (MAS) and the European Union’s MiCA framework. For a network built to connect global market participants with institutional-grade capital markets, plugging into an economy of this size is a structural step toward that goal.
Expanding Mantle’s Institutional-Grade Stack
USDG adds to Mantle’s existing lineup of institutional-grade assets, including AUSD by Agora, USDe by Ethena, USDY by Ondo, and USDT0 by Tether, reinforcing the network’s position as a destination where institutional RWA capital concentrates on-chain. Mantle’s stablecoin TVL crossed $982M and RWA TVL has grown from roughly $22 million to approximately $240 million over the past year with its tokenized assets count across leading equities, ETFs, commodities, treasuries, asset-backed credit and stablecoins expanding to over 700 and counting.
One of Mantle’s missions has always been to onboard more institutional-grade assets, including tokenized equities, yield-bearing stablecoins, and tokenized funds, to provide borderless access for anyone. That push requires a reliable stablecoin backbone underneath it. USDG becomes that dollar, backed by Paxos, one of the most established names in regulated stablecoin issuance, with monthly reserve reports published for full transparency.
The Compliance Layer Institutional Capital Needs
USDG will serve as the regulated dollar and institutional-grade asset across Mantle’s ecosystem, from DeFi utilities to capital allocation for institutions. Dual regulatory oversight, MAS supervision in Singapore and MiCA compliance in the EU, remains rare among stablecoins, and USDG is one of the few to carry both. Mantle’s connection to USDG signals that a major asset on-chain now carries clear regulatory standing. It moves Mantle closer to being an open financial network that can connect institutional-grade assets to users without borders.
“Alongside Bybit, one of our closest partners, Mantle has spent the last year building towards powering borderless access to RWA, and an institutional-grade stablecoin stack has been a core part of that: AUSD, USDe, USDY, and USDT0, each one bringing us closer to a network where global market participants can reach institutional-grade assets across the ecosystem,” said Emily Bao, Key Advisor at Mantle and Head of Spot at Bybit. “Joining Global Dollar Network and bringing USDG onto Mantle puts us inside a more active economic system. Our builders and partners now have a settlement asset they can trust as we bring more of the world’s financial products onto the network.”
“Mantle is building the rails that bring traditional financial assets on-chain, and that future runs on regulated dollars. Native USDG issuance puts one at the center of the ecosystem, and as a Global Dollar Network partner, Mantle shares in the upside it helps create,” said Walter Hessert, Head of Strategy at Paxos.
About Mantle
Mantle is the open financial network powering borderless access to global capital markets, connecting global market participants to institutional-grade capital market assets onchain. Mantle brings the full lifecycle of real-world assets onchain, from issuance and liquidity to distribution and settlement, spanning tokenized equities, treasury yield, private credit, commodities, and money markets. Anchored by one of the largest community-owned treasuries in the industry, Mantle combines credibility, deep liquidity, and institutional-grade infrastructure to support real-world finance onchain.
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About Global Dollar Network
Global Dollar Network is the world’s fastest-growing stablecoin network with unmatched economic upside. Powered by Global Dollar (USDG), a US dollar-backed stablecoin issued by Paxos Digital Singapore and Paxos Issuance Europe, Global Dollar Network offers a transparent and equitable economic model that rewards partners for their contributions. Global Dollar Network partners include industry leaders such as Bullish, Kraken, Mastercard, OKX, Paxos, Robinhood, Worldpay and more.
About USDG in the EU
Paxos issues USDG in the EU through Paxos Issuance Europe OY (“PIE”). USDG is fully redeemable from Paxos on a one-to-one basis for U.S. dollars. All USDG token holders in the EU have a right of redemption against PIE at any time and at par value for USDG.
Further information is available at paxos.com/eu, and the EU USDG White Paper is available at www.paxos.com/terms-and-conditions/usdg-eu-whitepaper.
