Global Dollar (USDG) is a fiat-backed US dollar stablecoin issued by Paxos (Global Dollar Network). It has about $3.09B in circulation, ranking #12 among the stablecoins CoinScoop tracks, and runs on 3 blockchains.
USDG price
$0.9998
On peg Circulating supply
$3.09B
30-day change
-3.4%
Price
$0.9998
Blockchains
3
Tracked since
Jul 2025
What is USDG?
Global Dollar (USDG) is a fiat-backed US dollar stablecoin issued by Paxos (Global Dollar Network). It has about $3.09B in circulation, ranking #12 among the stablecoins CoinScoop tracks, and runs on 3 blockchains.
Global Dollar is issued by Paxos and distributed through the Global Dollar Network, whose members include Kraken and Robinhood.
In the issuer's words: Global Dollar (USDG) is a single currency stablecoin pegged to the US dollar that is regulated under the Monetary Authority of Singapore (MAS). USDG is issued by Paxos Digital Singapore (PDS) and will always be fully redeemable from Paxos on a one-to-one basis for US dollars.
USDG supply history
$3.54B$0
Oct 8, 2025Oct 8, 2026
$3.54B$0
Jul 12, 2025Oct 8, 2026
USDG supply fell 3.4% over the past 30 days, to $3.09B. Its peak was $3.44B in May 2026, and supply is 10% below that high.
Is USDG holding its peg?
Last price
$0.9998
Target
1.0000 USD
Status
On pegUSDG is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where USDG lives: supply by blockchain
USDG is spread across several networks. The largest, Robinhood Chain, holds 42% of supply. Check that the token on your chain is the issuer's official contract, not a bridged copy.
How USDG is backed
USDG is backed by cash and cash equivalents held by Paxos.
Minting and redemption: KYC'ed users can mint and redeem USDG through paxos dashboard or through the Paxos API. USDG is redeemable 1:1 for US dollars.
USDG risks
Issuer and custody
Your claim is on the issuer and the banks or funds holding its reserves. A failure or freeze there can break the peg, as USDC briefly did in March 2023.
Freezes and blacklists
Fiat-backed issuers can usually freeze tokens at specific addresses, for example to comply with sanctions or court orders.
Bridged versions
Copies of a stablecoin moved by third-party bridges depend on those bridges. Prefer the issuer's native contract on each chain.
Regulation
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
USDG vs USDT and USDC
Similar fiat-backed stablecoins
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USDG FAQ
What is USDG?
Global Dollar (USDG) is a fiat-backed US dollar stablecoin issued by Paxos (Global Dollar Network). It has about $3.09B in circulation, ranking #12 among the stablecoins CoinScoop tracks, and runs on 3 blockchains.
Is USDG pegged 1:1 to the US dollar?
USDG targets 1 USD. At the last update it traded at $0.9998, a deviation of -0.02%, which we classify as "on peg".
What backs USDG?
USDG is a fiat-backed stablecoin. Cash and cash equivalents held by Paxos.
Which blockchains is USDG on?
USDG is live on 3 blockchains. The largest by supply are Robinhood Chain ($695M), Solana ($627M), Ethereum ($335M).
How much USDG is in circulation?
About $3.09B of USDG was in circulation at the last update, -3.4% over 30 days. That makes it the #12 stablecoin by supply among those we track.
Does USDG pay interest?
No. USDG does not pay yield to holders directly. Any interest earned on its reserves goes to the issuer. Some platforms offer rewards for holding it, but those are paid by the platform, not by USDG.
Is USDG safe?
No stablecoin is risk-free. As a fiat-backed design, USDG's main risks are reliance on the issuer and its banks or custodians, how transparent the reserves are, the issuer's ability to freeze tokens, and regulatory action. It currently shows "on peg" on our peg monitor. This page is information, not investment advice.