Assets · Stablecoin · issued by Paxos
Global Dollar (USDG)Updated 26 Oct 2026
US dollar stablecoin issued by Paxos's Singapore entity under MAS supervision (and in the EU under MiCA), distributed through the Global Dollar Network of partners.
Issued through Global Dollar (USDG) Live (scaled)
Classification · high confidence
- Legal form
- Stablecoin from regulator register
- Underlying
- Government debt · Government debt 98%, Money 2% (30 Sep 2026)
- Value behaviour
- Stable value · no income
- Ledger role
- Native
- Legal labels
- e-money token (MiCA) (European Union)[3]
KPMG-examined redemption assets report at 30 Sep 2026: $3,168.4m against 3,165.0m USDG outstanding; government money market funds $1,678.0m (52.96%, almost all one US fund, CUSIP 262006208, plus two small Irish funds held by the EU issuer), US Treasury obligations $1,412.3m (44.57%), bank cash $78.1m (2.47%), no repo. MMFs look through to Treasuries and Treasury repo. On 17 Sep the cash share was 12.9%.
Sourced[4]. How assets are classified: methodology.
Contracts
Addresses as published by the issuer. Check them on the explorer before relying on them. Supply per network comes from the issuing deployment's on-chain figures.
| Network | Address | Standard | Supply here | Source |
|---|---|---|---|---|
| X Layer | 0x4ae46a…3D2dc8 ↗ | ERC-20 | ~$1.13bn | [1] |
| Robinhood Chain | 0x5fc536…F1d168 ↗ | ERC-20 | ~$643.17m | [1] |
| Solana | 2u1tszSe…GWjGWH ↗ | SPL | ~$494.58m | [1] |
| Ethereum | 0xe34316…95491D ↗ | ERC-20 | ~$328.01m | [1] |
| Ink | 0xe34316…95491D ↗ | ERC-20 | ~$65.05m | [1] |
| Arbitrum | 0x004B50…4B9bbC ↗ | ERC-20 | ~$58.6m | [1] |
| Mantle | 0x063C1d…49C086 ↗ | ERC-20 | ~$501,105 | [1] |
Settles in USDG
- Maple syrup lending pools (syrupUSDC, syrupUSDT, syrupUSDG)Live (scaled)[5]Lenders deposit USDG for syrupUSDG.
- Mastercard stablecoin settlement for issuers, acquirers and merchantsLive (limited)[6]Enabled from June 2026; no evidenced flows found.
- Stripe stablecoin payments acceptanceLive (limited)[7]US only.
Sources
- [1]USDG on Main Networks — Paxos. Accessed 11 Oct 2026.B
- [2]paxosglobal/paxos-token-contracts: Paxos stablecoin smart contract repo — Paxos (GitHub). Accessed 13 Oct 2026. Repository covers USDP, USDG, PYUSD and PAXG and describes the token as ERC-20..B
- [3]Interim MiCA register of e-money token white papers (EMTWP.csv) — ESMA. Accessed 14 Oct 2026.A
- [4]Global Dollar (USDG) Redemption Assets Report as of 17 and 30 September 2026, with KPMG LLP examination report dated 23 October 2026 — Paxos Digital Singapore / KPMG LLP, 23 Oct 2026. Accessed 26 Oct 2026. Linked as 'Sept' from paxos.com/usdg-transparency (the page lists reports client-side)..A
- [5]Earning with syrupUSDC/USDT/USDG | Maple — Maple Finance. Accessed 17 Oct 2026.B
- [6]Mastercard expands settlement capabilities — Mastercard, Jun 2026. Accessed 11 Oct 2026.B
- [7]Stablecoin payments — Stripe. Accessed 11 Oct 2026.B