# USDG (Global Dollar)

*The Global Dollar (USDG) — Paxos-issued, the first stablecoin native to Robinhood Chain and Robinhood Earn's yield asset.*

USDG is the dollar of Robinhood Chain, and its placement there is a deliberate ecosystem decision, not an accident of liquidity. It is Paxos-issued, 1:1 USD-backed, and the reserve-sharing stablecoin of the Global Dollar Network — a consortium introduced in November 2024 that includes Robinhood, Kraken, Anchorage Digital, Galaxy, Nuvei, and Paxos, structured so members share in the yield the reserves generate rather than leaving it all with the issuer. On Robinhood Chain, USDG is the first stablecoin natively issued, holds roughly 68% of a ~$300m stablecoin market, and is the asset behind Robinhood Earn's ~7% self-custodial yield through Morpho. That vertical integration is the story: Robinhood is a Global Dollar Network member, so routing its users into USDG and then into USDG-denominated yield keeps the economics inside a network it participates in. For users the proposition is clean — a regulated, reserve-backed dollar with real onchain utility as collateral, quote asset, and yield principal — and the holder count on the chain rose roughly tenfold in the first week, to about 4,000, which is genuine traction on a small base. The honest caveats are that the 68% dominance figure reflects a stablecoin market that is days old and concentrated, that the reserve-sharing model aligns issuer and members but is not a user-facing yield guarantee, and that USDG's onchain footprint here is a fraction of its >$1bn total supply across chains. USDG is the well-chosen dollar for a broker's chain — regulated, integrated, and yield-bearing by design — rather than a neutral, chain-agnostic settlement asset.

## At a glance

- **Type:** stablecoin
- **Category:** stablecoins
- **Status:** mainnet
- **Website:** https://globaldollar.com

## Key facts

- **What it is:** The Global Dollar (USDG), a 1:1 USD-backed stablecoin issued by Paxos and the anchor dollar of Robinhood Chain — the first stablecoin natively issued there. _(confidence 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. _(confidence 85%)_
- **Role in Robinhood Earn:** USDG is the asset lent in Robinhood Earn, which targets ~7% APY on a self-custodial basis by routing deposits through Morpho lending markets. _(confidence 85%)_
- **On-chain dominance:** Holds roughly 68% of Robinhood Chain's ~$300m stablecoin market cap (DefiLlama), early July 2026. _(confidence 80%)_
- **Contract:** Canonical Robinhood Chain contract 0x5fc5360D0400a0Fd4f2af552ADD042D716F1d168 (per Robinhood's registry). _(confidence 72%)_
- **Early traction:** USDG holders on Robinhood Chain rose roughly 10x in the first week to about 4,000 — real traction on a small base. _(confidence 80%)_

## Metrics

- **USDG stablecoin dominance:** 68.35 %

## Related entities

- [Morpho](https://hoodl2.com/entity/morpho) — integrates
- [Lighter](https://hoodl2.com/entity/lighter) — integrates
- [Paxos](https://hoodl2.com/entity/paxos) — issued by
- [Robinhood Chain](https://hoodl2.com/entity/robinhood-chain) — builds on
- [Morpho](https://hoodl2.com/entity/morpho) — integrates
- [Lighter](https://hoodl2.com/entity/lighter) — integrates
- [Paxos](https://hoodl2.com/entity/paxos) — issued by

## Sources

1. [About USDG — What Global Dollar Is & Why It Matters](https://globaldollar.com/about-usdg) — Global Dollar
2. [Spark powers Robinhood's USDG stablecoin savings product launch](https://cryptobriefing.com/spark-robinhood-usdg-stablecoin-savings-earn/) — Crypto Briefing
3. [Robinhood Chain's USDG Holder Count Surges to 4K, Up 10x in a Week](https://www.kucoin.com/news/flash/robinhood-chain-s-usdg-holder-count-surges-to-4k-up-10x-in-a-week) — KuCoin
4. [Robinhood Earn: earn an estimated 7% APY](https://robinhood.com/us/en/crypto/earn/) — Robinhood
5. [Robinhood Chain — DeFi TVL, Fees & Revenue](https://defillama.com/chain/robinhood-chain) — DefiLlama

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Last reviewed: 13 Jul 2026  
Canonical: https://hoodl2.com/entity/usdg  
Source: HoodL2 (https://hoodl2.com) — an independent, sourced reference for the Robinhood Chain ecosystem. Not affiliated with Robinhood Markets or its subsidiaries.