Arbitrum has become a member of the Global Dollar Network, the Paxos‑led consortium that issues the USDG stablecoin, seeking to earn a portion of the revenue generated by stablecoins already active on its Layer‑2 chain.
USDG went live on Arbitrum on Tuesday, with integrations across trading, lending and payments from partners such as Fluid, Morpho, GMX, Maple, Li.Fi, Gauntlet, Steakhouse, LayerZero and Kraken; Uniswap and Fhenix are expected to join soon.
USDG is issued by Paxos, fully backed one‑for‑one by dollar reserves and now exceeds $3 billion in circulation across multiple chains. The Global Dollar Network counts over 150 partners—including Robinhood, Kraken, Mastercard and OKX—and shares the yield from USDG reserves with those partners that help grow adoption, instead of reserving the earnings for the issuer alone.
This structure provides Arbitrum with a fresh revenue stream from stablecoin activity on its network. Currently, roughly $3.8 billion of stablecoins reside on Arbitrum, with Circle’s USDC making up about 60 % according to DefiLlama; however, Arbitrum does not directly receive a portion of the reserve income generated by those tokens.
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