Paxos Labs has launched USDG0, an omnichain extension of its regulated USDG stablecoin, to broaden the reach of dollar-backed liquidity across multiple blockchain ecosystems. This move leverages LayerZero's Omnichain Fungible Token (OFT) standard, enabling USDG to operate on additional blockchains where Paxos doesn't yet offer direct issuance.
USDG0's initial rollout includes integration with Hyperliquid, a platform boasting over $4.5 billion in total value locked (TVL), followed by expansions to Plume and Aptos. This strategic deployment aims to provide trusted and economically-aligned stablecoin liquidity to various ecosystems, reinforcing the accessibility of the Global Dollar Network (GDN).
The launch of USDG0 underscores the increasing competition among platforms to deliver reliable stablecoins for decentralized finance (DeFi) activities, such as trading and lending. The stablecoin market has experienced substantial growth, surging from $208 billion in market capitalization in January to $303 billion. Tether's USDT currently dominates the market with approximately 61% market share and a market cap of $184 billion.
Ronak Daya, Head of Product at Paxos, stated that USDG0 reflects a shared vision to make the Global Dollar accessible wherever users transact. By extending USDG's reach through Paxos Labs and LayerZero, every ecosystem gains the ability to embed trusted stablecoin liquidity powered by the same foundation that underpins all Paxos-issued assets.
When USDG is moved to a new blockchain, an equivalent amount of USDG0 is created on that chain, while the original USDG remains locked in secure, audited contracts. This mechanism ensures that every token is fully backed and compliant with regulatory standards. Paxos Labs will also provide essential infrastructure, including a USDG0 Portal for instant cross-chain transfers, APIs, and liquidity systems designed for large transactions with low fees.
Paxos's Global Dollar (USDG) is a single-currency stablecoin pegged to the U.S. dollar and issued by Paxos Digital Singapore Pte. Ltd. It is designed for payments, settlements, and treasury operations, and is compliant with the Monetary Authority of Singapore's (MAS) forthcoming stablecoin framework. USDG serves as an interoperable building block for open-source smart contracts, allowing developers to create new use-cases, products, and services. All cash and cash equivalent reserve assets are held in segregated accounts to protect user assets.
USDG was first issued in November 2024 by Paxos Digital Singapore Pte. Ltd. and has remained substantially compliant with Singapore's upcoming stablecoin framework. In July 2025, Paxos launched USDG in the European Union, making it accessible to over 450 million consumers across 30 countries. Regulated under the EU's Markets in Crypto-Assets (MiCA) framework and overseen by the Finnish Financial Supervisory Authority (FIN-FSA) and MAS, USDG is available through various platforms, including Kraken and SwissBorg.
Walter Hessert, Head of Strategy at Paxos, emphasized that USDG is a fully regulated global USD-stablecoin that is compliant with MiCA and now available in the EU. This underscores Paxos's commitment to offering global digital assets supervised by prudential regulators and meeting the highest standards of consumer protection.
