USDG market cap on Arbitrum One climbs to $31.2 million after $10.2 million daily jump

Paxos’s Global Dollar stablecoin, USDG, just had a busy day on Arbitrum One. Its market cap on the network rose by $10.2 million over the past 24 hours to reach $31.2 million.

That works out to roughly 49% growth in a single day.

Paxos launched USDG natively on Arbitrum One on October 6, 2026. Rather than showing up to an empty room, the token arrived with integrations across several decentralized finance protocols from the start.

The lineup covers the main DeFi use cases. Fluid handles trading, Morpho supports lending, GMX accepts deposits, and Maple offers yield products built around the token.

Native issuance also matters here. A natively issued stablecoin is minted directly on the chain by the issuer, rather than wrapped and shipped over from another network through a bridge.

The Arbitrum rollout is part of the Global Dollar Network, or GDN, the partner framework Paxos uses to expand USDG’s presence and utility across platforms.

Small slice of a much bigger token

For context, the $31.2 million on Arbitrum is a sliver of USDG’s overall footprint. Total circulating supply for the stablecoin now exceeds $3.2 billion, which places it as the seventh-largest stablecoin by market capitalization.

Until now, USDG’s supply has been concentrated on other networks, including X Layer, Robinhood Chain, and Solana. Arbitrum adds an Ethereum Layer 2 to that mix.

Arbitrum already has an estimated $4 billion in stablecoins on its network. Against that pool, USDG’s $31.2 million is still under 1% of the existing stablecoin base.

The regulated dollar pitch, plus a revenue twist

USDG operates under strict regulatory oversight. Each token is backed 1:1 by US dollar reserves, and monthly attestations are published to confirm that backing.

Through the GDN, revenue generated from reserve yields is shared with distribution partners instead of being kept entirely by Paxos. The platforms that bring USDG to users can share in that income, which gives them a direct reason to push adoption.

For Arbitrum, that arrangement positions the ecosystem to take a cut of GDN revenue tied to activity from its user base.

ArbitrumDAO weighs a 100 million ARB incentive

There’s also a governance angle. An ArbitrumDAO proposal seeks to allocate 100 million ARB tokens to incentivize USDG liquidity and adoption on the network.