Paxos has taken a significant step in multi-chain stablecoin infrastructure by launching USDG0, an omnichain version of its regulated USDG stablecoin, using LayerZero's Omnichain Fungible Token (OFT) standard for seamless cross-chain functionality.
USDG0 is fully backed by cash, short-term U.S. Treasuries, and cash equivalents, with monthly audits conducted by Withum, ensuring regulatory compliance and transparency. The stablecoin maintains a 1:1 reserve model, similar to the existing USDG, which has a market capitalization of $997 million.
The primary launch networks for USDG0 are Plume, Hyperliquid, and Aptos. Plume Network, specializing in real-world assets (RWA), has recorded over 280,000 active holders and $645 million in total value locked (TVL) within five months of its mainnet launch, positioning it as a distribution hub for compliant liquidity. Hyperliquid, a decentralized perpetuals exchange, will leverage USDG0 for yield-aligned trading pairs, lending markets, and collateral rails. Aptos becomes the first network to deploy a Move-native OFT stablecoin, focusing on enterprise-grade settlement and attracting institutional partners.
Infrastructure upgrades include the USDG0 Portal for cross-chain swaps and low-fee APIs to support unified liquidity and reduce risks associated with traditional bridges. Paxos is exploring further integrations on Solana, Ethereum, Ink, and X Layer to expand USDG0's reach.
