The Ethereum layer-2 is backing Paxos-issued USDG to earn a share of reserve income as new stablecoin alliances compete for distribution, users and reserve economics. Paxos-issued Global Dollar (USDG) is launching across Arbitrum's DeFi ecosystem, including Morpho, GMX, Fluid and Maple, with Kraken providing on- and off-ramps. Arbitrum aims a share of the economics generated by stablecoins on its network, which currently holds about $3.8 billion of them, roughly 60% in Circle's USDC.…
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