Global Dollar
Stablecoin Profile
Global Dollar (USDG) is a fiat-backed stablecoin pegged to USD, with $1.7B in circulating supply across 4 blockchain networks. Each USDG is backed by reserves held by the issuer, with parity attested via coingecko. The peg has historically held within ±1% on most trading sessions, with reserve composition and attestation cadence the primary inputs to its credit-risk profile.
About Global Dollar (USDG)
Global Dollar (USDG) is a single currency stablecoin pegged to the US dollar that is regulated under the Monetary Authority of Singapore (MAS). USDG is issued by Paxos Digital Singapore (PDS) and will always be fully redeemable from Paxos on a one-to-one basis for US dollars.
KYC'ed users can mint and redeem USDG through paxos dashboard or through the Paxos API. USDG is redeemable 1:1 for US dollars.
Recent supply activity
Global Dollar (USDG) supply expanded by $2.7K in the last 24 hours, expanded by $60.9M (+3.81%) over the past week, and expanded by $191.4M (+13.06%) over the past 30 days.
Expansion phase: minting activity has outpaced redemptions, with circulating supply growing 13.06% over the past month.
Supply History
Network distribution
Global Dollar circulates across 4 blockchain networks. Solana hosts the largest share at 54.79%, followed by X Layer at 19.83%. Ethereum has shown the strongest 30-day growth at +25.56%, suggesting fresh issuance or bridge inflows on that chain.
| Chain | Supply | Share | 24h Δ | 30d Δ |
|---|---|---|---|---|
| Solana | $908.1M | 54.79% | -1.53% | +9.51% |
| X Layer | $328.7M | 19.83% | 0.00% | +18.01% |
| Ethereum | $317M | 19.12% | +4.65% | +25.56% |
| Ink | $103.8M | 6.26% | -0.00% | -2.06% |
Peg stability history
Global Dollar (USDG) is designed to trade at exactly 1.00 USD, with its peg defended through direct redeemability against off-chain reserves. Spot price currently sits at $1.0000, a -0.001% deviation from the target — well inside the stability band typical for reserve-backed dollar tokens.
How reserve-backed stablecoins defend their peg
Fiat-backed stablecoins maintain their peg through arbitrage: any time the secondary-market price drifts above $1.00, authorised participants mint new tokens by depositing dollars and sell them into the market; any time it drifts below, they buy on the open market and redeem 1:1 for dollars. The peg therefore depends entirely on (a) the reserves actually existing, (b) the issuer honouring redemption requests promptly, and (c) the issuer remaining solvent and unfrozen.
Practical implications for holders
- Counterparty risk is concentrated in the issuer and its banking partners — a banking failure (as in the March 2023 USDC / SVB episode) can cause short-term depegs even when the underlying reserves are sound.
- Reserve attestations are not full audits. Always read the firm name, scope, and date of the latest attestation report before treating the peg as risk-free.
- Redemption rights typically apply only to verified institutional partners, not to retail holders. Retail exposure is exited via secondary markets, where liquidity matters most during stress periods.
- Regulatory action against the issuer (NYDFS orders, OFAC freezes, court-ordered blacklists) can immediately impair specific addresses or even the entire token.
- Mantapex tracks peg deviation in real time from DeFiLlama price feeds, but for high-value holdings cross-check directly on at least one independent venue (CoinGecko, the issuer's own dashboard, or an on-chain DEX).
Peg-stability commentary is based on the mechanism class (reserve-backed) and is provided for educational purposes only — it is not financial advice. Past peg stability is not a guarantee of future performance, and even the highest-quality stablecoins have historically traded outside their target band during banking, regulatory, or liquidity stress.
Contract addresses
Global Dollar (USDG) is deployed as a token contract on 1 blockchain network below. Always verify the contract address you're interacting with on the relevant block explorer before sending funds — phishing tokens reusing well-known stablecoin tickers are common, especially on newer chains.
| Chain | Contract address | Verify |
|---|---|---|
| Ethereum | 0xe343167631d89B6Ffc58B88d6b7fB0228795491D | Explorer |
Contract addresses are sourced from DeFiLlama's stablecoin profile. Some chains (Tron, Solana, Aptos, Sui) use non-EVM address formats. The "Explorer" link opens the official block explorer for the given chain; we do not link out to third-party explorers that may show altered data.
Compare Global Dollar to other fiat-backed stablecoins
Below are the largest fiat-backed stablecoins tracked on Mantapex alongside Global Dollar (USDG). Comparing supply and chain footprint within the same mechanism class is more meaningful than cross-class comparison, because the underlying peg-defence assumptions are different.
| Stablecoin | Supply | Mechanism | Chains |
|---|---|---|---|
| Tether (USDT) | $184.1B | fiat-backed | 107 |
| USD Coin (USDC) | $79.6B | fiat-backed | 125 |
| World Liberty Financial USD (USD1) | $4.5B | fiat-backed | 8 |
| PayPal USD (PYUSD) | $4.1B | fiat-backed | 7 |
| BlackRock USD (BUIDL) | $2.5B | fiat-backed | 8 |
Peg Stability
Chain Distribution
Resources & data sources
Global Dollar (USDG) is tracked across major crypto data providers. The links below open Global Dollar (USDG)'s pages on CoinGecko, CoinMarketCap and DeFiLlama, so you can cross-check supply, market cap, exchange listings and historical price data directly at the source.
Price feed sourced from coingecko. Supply, peg and chain-distribution data are aggregated from DeFiLlama's stablecoins dataset, which combines on-chain balances across supported networks. Numbers on this page typically refresh every 10 minutes.
Recent Global Dollar news
Latest reporting from major crypto news outlets covering Global Dollar.
- Crypto Briefing
OKX offers US VIP users up to 4.1% APY on USDG with no lock-ups
OKX's new program highlights the evolving landscape of stablecoin rewards amid regulatory scrutiny, impacting user engagement and market dynamics. OKX offers US VIP users up to…
- Crypto Briefing
LayerZero joins Global Dollar Network to enhance dollar infrastructure with omnichain USDG
LayerZero's integration with the Global Dollar Network could revolutionize cross-chain stablecoin transactions, enhancing liquidity and efficiency. LayerZero joins Global Dollar…
- The Currency Analytics
Only 3 Out of 50 Stablecoins Meet MiCA Standards in Europe
Three. Out of fifty. This is the stark outcome of the MiCA regulation for stablecoins in Europe—a regulation in effect since late 2024 that was theoretically supposed to clean up…
- Crypto Briefing
Circle executive highlights USDC, USDG, and EURC as top MiCA-compliant stablecoins
MiCA compliance grants Circle and Paxos a competitive edge in the EU, potentially reshaping stablecoin market dynamics and regulatory strategies. Circle executive highlights USDC,…
- Crypto Briefing
Robinhood Chain picks USDG as its native stablecoin, betting on economics that actually share the wealth
Robinhood's choice of USDG for its blockchain could democratize financial benefits, challenging traditional stablecoin economic models. Robinhood Chain picks USDG as its native…
- Crypto Briefing
Uniswap's USDG liquidity on Robinhood Chain doubles to over $8.5M in one week
The rapid growth of USDG liquidity on Robinhood Chain highlights potential systemic risks due to heavy reliance on a single stablecoin. Uniswap's USDG liquidity on Robinhood Chain…
- Crypto Briefing
Robinhood Chain's USDG holder count surges to 4K, up 10x in a week
The rapid growth in USDG holders highlights Robinhood Chain's potential to reshape digital finance, emphasizing self-custody and DeFi integration. Robinhood Chain's USDG holder…
- Bitcoinist
Robinhood Earn Adds 7% USDG Yield Offer As Stablecoin Competition Heats Up
Robinhood added a 7% APY USDG Earn structure as stablecoin competition expands across retail crypto platforms.
Related stablecoins
Stablecoins comparable to Global Dollar by collateral mechanism, peg currency, or circulating supply — handy for spotting alternatives if a peg breaks or a regulator forces a delist.
Other fiat-backed stablecoins
Stablecoins pegged to USD
Risk Warning
Stablecoins carry risks including de-pegging, regulatory changes, and counterparty risk. Always diversify and do your own research.
