stablecoin
USDG (Global Dollar)
USD-backed stablecoin issued by Paxos for the Global Dollar Network.
Opens on hoodl2.com.
Project video
0:47Read the transcript · Narrated with captions
Digital assets move around the clock. Stablecoin infrastructure brings a familiar unit of account into that onchain world. U S D G is a regulated, USD-backed stablecoin issued by Paxos and used by the Global Dollar Network. The network shares stablecoin economics with participating partners; U S D G is available on Robinhood Chain and is used in its stablecoin and yield ecosystem. 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 U S D G (Global Dollar) on Hood L two. Find the project links, its full description, and the sources behind the listing.
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HoodL2 project profile7 sourcesReviewed 7 Sept 2026
Overview
USDG is a regulated, USD-backed stablecoin issued by Paxos and used by the Global Dollar Network. Participating partners share revenue from the network. USDG is available on Robinhood Chain, including in applications offering lending and yield products.
Uses
- Holding or using USDG in supported trading and lending applications.
- Researching the issuer’s reserves and redemption arrangements.
Risks and limitations
- Early market-share figures are dated and can change.
- Global Dollar Network revenue sharing is distinct from a tokenholder yield entitlement.
- Lending USDG adds protocol and market risks to the stablecoin’s own risks.
Metrics
USDG stablecoin dominance
68.35 %
Snapshot 2026-07-13
Key facts
- What it is
- USDG is a regulated, USD-backed stablecoin issued by Paxos and used by the Global Dollar Network. Participating partners share revenue from the network. USDG is available on Robinhood Chain, including in applications offering lending and yield products.· 88%§
- Global Dollar Network
- USDG is the reserve-sharing stablecoin of the Global Dollar Network, a consortium introduced November 2024 whose members include Robinhood, Kraken, Anchorage Digital, Galaxy, Nuvei, and Paxos.· 85%§
- Role in Robinhood Earn
- Earn lends USDG through Morpho markets. Its advertised 7% was a launch estimate; deposits are subject to protocol rules and available liquidity.· 85%§
- On-chain dominance
- Holds roughly 68% of Robinhood Chain's ~$300m stablecoin market cap (DefiLlama), early July 2026.· 80%§
- Contract
- Canonical Robinhood Chain contract 0x5fc5360D0400a0Fd4f2af552ADD042D716F1d168 (per Robinhood's registry).· 72%§
- Early holder count
- The early-July record reports holder addresses increasing roughly tenfold to about 4,000 in the first week. Addresses are not a count of individual users.· 80%§
Key features
Global Dollar Network
USDG is used by the network’s participating issuers and distributors.
Reserve-backed stablecoin
Paxos describes USDG as fully backed by dollar-denominated reserves. Check issuer disclosures and redemption terms.
Lending use
Some applications lend USDG to generate borrower interest. That return is distinct from reserve-revenue sharing between network members.
People and accounts
Co-founded Paxos, the USDG issuer.
Leads Robinhood Crypto and discusses USDG integrations.
Independent account covering stablecoins and liquidity products.
History
2024-11
2026-07-01
USDG anchors Robinhood Chain and Robinhood Earn
USDG was used as a trading asset and the deposit asset for Earn at mainnet launch. Earn’s advertised 7% was an estimated lending return.
Frequently asked questions
- Who issues USDG?
- Paxos. USDG is the Global Dollar, a 1:1 USD-backed stablecoin and the native stablecoin of the Global Dollar Network, a consortium whose members include Robinhood, Kraken, Anchorage Digital, Galaxy, Nuvei, and Paxos.
- Where does Robinhood Earn's 7% yield come from?
- The launch estimate referred to lending USDG through Morpho, where borrowers pay interest. It is variable and is not a current or guaranteed rate.
- Is USDG only on Robinhood Chain?
- USDG is a multichain stablecoin. The earlier record cited supply above $1bn across networks; that is a dated figure.
Related projects
Morpho
mainnetOnchain lending markets and allocation vaults.
Lighter
mainnetLow-latency perpetual trading with verifiable matching and liquidations.
Paxos
activeRegulated blockchain infrastructure for financial institutions.
Robinhood Chain
CoreEthereum Layer 2 for tokenized assets and financial applications.
Morpho
mainnetOnchain lending markets and allocation vaults.
Lighter
mainnetLow-latency perpetual trading with verifiable matching and liquidations.
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