USDG DeFi deposits reach $929.2M as on-chain expansion accelerates

USDG, a dollar-pegged stablecoin issued directly by Paxos, has reached $929.2 million in decentralized finance deposits, Crypto Briefing reported. Crypto Briefing said USDG is a stablecoin regulated by Singaporean authorities and that its on-chain expansion is accelerating despite its relatively short history. The outlet added that USDG’s circulating supply stands at around $3 billion, with DeFi deposits accounting for about one-third of that total.