Arbitrum joins Paxos-led Global Dollar Network, adds USDG support

Arbitrum, an Ethereum layer-2 network, has joined the Global Dollar Network, a stablecoin consortium led by Paxos, CoinDesk reported. As a result, Paxos-issued dollar stablecoin USDG has launched on the Arbitrum network. About $3.8 billion worth of stablecoins are currently in circulation on Arbitrum, with USDC accounting for around 60% of the total.