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      Paxos' stablecoin USDG launches on Arbitrum

      PANews reported on October 6, citing Cointelegraph, that Global Dollar (USDG), a stablecoin issued by Paxos, has launched on Arbitrum, making Arbitrum the latest addition to the Global Dollar Network. USDG is natively issued on Arbitrum One and integrated with DeFi protocols such as Fluid, Morpho, GMX, and Maple. Kraken will support deposits and withdrawals, and Stargate will support transfers between Arbitrum and other blockchains.

      A proposal submitted to ArbitrumDAO seeks to add 100 million ARB to incentivize USDG adoption and liquidity, and to deploy Arbitrum treasury assets to support USDG liquidity. As a Global Dollar Network partner, Arbitrum will share in the rewards generated by USDG on its network.


      Source: PANews
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