Who issues the main stablecoin on Robinhood Chain?

Paxos issues USDG, which is used by trading and lending applications on Robinhood Chain.

What is Robinhood's relationship to USDG?

Robinhood is a founding member and distributor in the Global Dollar Network. Membership and commercial participation should not be treated as a shareholder entitlement for tokenholders.

USDG is issued 1:1 against US dollars by Paxos as a regulated stablecoin issuer.

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Paxos

Name: Paxos — animated project explainer
Uploaded: 2026-09-05T07:56:49.961Z
Duration: 47 s
Description: Regulated blockchain infrastructure for financial institutions.

Regulated blockchain infrastructure for financial institutions.

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Project video

0:47

Read the transcript · Narrated with captions

Digital assets move around the clock. Stablecoin infrastructure brings a familiar unit of account into that onchain world. Paxos develops regulated blockchain and digital-asset infrastructure for financial-services organizations, including stablecoin and settlement products. This is infrastructure for the stablecoin economy, connecting digital-asset operations with issuance, settlement, or the tokens people use. The token moves onchain, while issuance and backing are separate parts of the system. Keeping those layers distinct makes the design easier to understand. Explore Paxos on Hood L two. Find the project links, its full description, and the sources behind the listing.

HoodL2 produced this overview independently. It is not an endorsement. Check the listing sources for current details.

HoodL2 project profile4 sourcesReviewed 7 Sept 2026

Overview

Paxos develops regulated blockchain and digital-asset infrastructure for financial-services organizations, including stablecoin and settlement products.

Uses

Researching USDG issuance and reserves.
Understanding Global Dollar Network participation.

Risks and limitations

Applications using USDG depend on its issuance, reserves and redemption arrangements.
Network membership does not establish a direct entitlement to yield for every USDG holder.

Key facts

What it is: Paxos develops regulated blockchain and digital-asset infrastructure for financial-services organizations, including stablecoin and settlement products.· 85%§
Role on Robinhood Chain: Paxos issues USDG, used as a trading and lending asset on Robinhood Chain.· 88%§
Global Dollar Network: USDG is the native stablecoin of the Paxos-driven Global Dollar Network; Robinhood is a founding member alongside Anchorage, Bullish, Galaxy, Kraken and Nuvei.· 88%§
Backing model: USDG is issued 1:1 against US dollars by Paxos as a regulated issuer.· 85%§
Earn integration: USDG is the deposit asset for Robinhood Earn’s Morpho-based lending. The advertised 7% was a launch estimate; references to Spark require product-level reconciliation.· 80%§
Concentration: The early-July records show a large USDG share of stablecoin liquidity. Current concentration requires fresh data.· 72%§

Key features

USDG issuance

Paxos issues USDG under the applicable issuer and regulatory arrangements.

Reserve backing

USDG is described as fully backed by dollar-denominated reserves. Consult the current reserve reports and redemption terms.

Global Dollar Network

Participating organizations distribute and use USDG under the network’s commercial arrangements.

People and accounts

Charles CascarillaCo-Founder & CEO, Paxos

@PaxosGlobal

Co-founded Paxos, the USDG issuer.

PaxosOfficial Issuer Account

@Paxos

Publishes stablecoin, reserve and infrastructure updates.

History

2024-11
Global Dollar Network launches with Robinhood as a founder
Paxos introduced the Global Dollar Network, an open consortium to grow USDG adoption, with Robinhood among the founding members.
2026-07-01
USDG anchors Robinhood Chain's dollar liquidity and Earn
At Robinhood Chain's launch, Paxos-issued USDG served as the dominant on-chain dollar and the deposit asset for Robinhood Earn.

Frequently asked questions

Who issues the main stablecoin on Robinhood Chain?: Paxos issues USDG, which is used by trading and lending applications on Robinhood Chain.
What is Robinhood's relationship to USDG?: Robinhood is a founding member and distributor in the Global Dollar Network. Membership and commercial participation should not be treated as a shareholder entitlement for tokenholders.
How is USDG backed?: USDG is issued 1:1 against US dollars by Paxos as a regulated stablecoin issuer.