Paxos-issued Global Dollar (USDG) has reached a $425.6 million market capitalization on Robinhood Chain since late June, establishing itself as the network's primary stablecoin.
Robinhood Chain, an Arbitrum-based Layer 2, launched its public mainnet on July 1, 2026, designating USDG as its native stablecoin. The integration drove significant on-chain capital flows. In the past 30 days alone, USDG recorded a $93.9 million increase on Robinhood Chain.
The localized growth reflects broader momentum across Paxos' stablecoin portfolio. USDG and PayPal USD (PYUSD) collectively added $313.6 million in market capitalization over a 30-day period ending in mid-August 2026, with USDG accounting for approximately $305 million of that growth. USDG's total market capitalization now stands at about $3.4 billion, fully backed by USD assets including U.S. Treasuries and cash equivalents.
Robinhood Chain has attracted other stablecoin liquidity as well. Paxos' USDG, Ethena's USDe and Arcus' arcUSDG have collectively reached more than $650 million in combined market capitalization on the network.
Uniswap liquidity for USDG on Robinhood Chain doubled to over $8.5 million within one week of launch.
Paxos operates a mint and redeem model for both USDG and PYUSD with zero fees, fully backed by USD assets and subject to Office of the Comptroller of the Currency oversight. Paxos attests its reserves monthly, providing transparent verification of backing assets.
Visa's 2025 decision to support both stablecoins for payment settlement extends their institutional reach across the card network. PYUSD has expanded further through PayPal's distribution network, entering dozens of global markets and reaching hundreds of millions of users.
