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Paxos launches USDG stablecoin on Arbitrum with Kraken support
Arbitrum is proposing 100 million ARB incentives to boost USDG adoption and liquidity.
Paxos' Global Dollar (USDG) stablecoin has gone live on the Arbitrum network, joining the Global Dollar Network, Cointelegraph reports.
According to an announcement shared with Cointelegraph, USDG is natively issued on Arbitrum One and is integrated with decentralized finance protocols including Fluid, Morpho, GMX, and Maple.
Cointelegraph also reports that Kraken will support USDG deposits and withdrawals, while Stargate will enable transfers between Arbitrum and other blockchains.
ArbitrumDAO has a proposal to make USDG growth a strategic objective and add 100 million ARB to an incentive program aimed at increasing adoption, the outlet adds.