S&P 5007,773.95▲0.7% Nasdaq27,477.31▲1.1% Dow51,267.90▲0.2% Russell 2K2,847.14▲0.5% 10-Yr5.31%+3bp VIX15.52+0.21 WTI$89.70▼1.6% Gold$4,150.40▼0.3% EUR/USD1.122▼0.3% BTC$86,526▲0.9% Nikkei70,082▲0.2%
At close · Tue, Oct 6, 2026
Daily Market Updates.

Crypto

Home›Crypto›Stablecoins›Arbitrum backs Paxos stablecoin USDG as alliances expa…

Arbitrum backs Paxos stablecoin USDG as alliances expand

CoinDesk says the move is aimed at letting Arbitrum and USDG users participate in reserve income tied to Paxos's stablecoin structure.

Reported · Written up by our desk · Stablecoins

Arbitrum is backing Paxos-issued USDG as part of a new stablecoin alliance focused on capturing growth in digital dollar usage, according to CoinDesk.

The Ethereum layer-2 will support USDG in a bid to participate in reserve income, as stablecoin partnerships compete for distribution, users, and the economics of reserves.

Latest closeEthereum $2,720.72 ▲0.4%

← Newer storyParamount completes acquisition of Warner Bros. Discovery, forming Sk…

More like this

CryptoEther.fi rolls out a dollar stablecoin with Ethena managing reserves
CryptoPaxos launches USDG stablecoin on Arbitrum with Kraken support
CryptoArbitrum One launches USDG stablecoin backed by Paxos
CryptoOKX aims to hide blockchain mechanics from stablecoin users
CryptoOKX launches OKX Money app with up to 10% yield on USDG

Sources

CoinDeskArbitrum joins Paxos-led stablecoin group Global Dollar to capture digital dollar growth

Get the close, explained.

One email every trading day: what moved, why it moved, and what's on deck tomorrow. Read in 3 minutes.

Free. Unsubscribe anytime.