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
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.
- Crypto Economy
Aave Introduces New V4 Liquidity Hub Focused on USDG and Stablecoin Markets
The decentralized lending protocol Aave has officially launched the Global Dollar Hub on its Aave V4 protocol on the Ethereum blockchain. As reported by the protocol's development…
- Crypto Briefing
Spark powers Robinhood's USDG stablecoin savings product launch
Robinhood's integration of DeFi with regulated finance could drive mainstream adoption, but users must navigate inherent risks in yield products. Spark powers Robinhood's USDG…
- Tokenpost
USDC Sees $336 Million Outflow as Stablecoin Liquidity Rotates to USDG, TRX
Capital flows across major crypto assets tilted toward selective inflows into USDG and Tron (TRX) over the past 24 hours, while USDC and USD1 saw sharp redemptions—an imbalance…
- Bitcoin
Top 5 Stablecoins Capture Nearly 90% of Sector as Market Contracts This Week
Over the last seven days, the stablecoin sector posted a slight contraction of $90.01 million, bringing the market's total valuation to $323.052 billion, according to figures…
- PYMNTS
Anchorage Digital Ends USDG Promotion to Assert Stablecoin Neutrality
Anchorage Digital will take a less active role in the Global Dollar Network as it becomes a white-label stablecoin issuer for more companies and takes a more neutral stance on…
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.
