Paxos Stablecoins USDG and PYUSD Add $314M in Market Cap Across Chains

Paxos stablecoins USDG and PYUSD expand by $313.6 million across blockchains. USDG drove roughly $305 million of the 30-day expansion, lifting its total market cap to approximately $3.4 billion. A key driver was USDG's integration as the native stablecoin on Robinhood Chain, pushing supply on the network to hundreds of millions. Both USDG and PYUSD operate under Office of the Comptroller of the Currency oversight with monthly reserve attestations and zero mint or redeem fees. PYUSD added the remaining share of growth across dozens of global markets via PayPal's existing interface. Distribution rails dictate stablecoin liquidity, and embedding directly into retail brokerages is the main channel issuers have left to compete with.