Mantle Natively Mints Paxos USDG, Joins Global Dollar Network

This move signals a deepening alignment between Layer 2 infrastructure and regulated stablecoin issuers, as Mantle gains a direct economic stake in USDG's growth rather than merely hosting liquidity. For Mantle, the native minting and revenue share could bolster its RWA ecosystem, which has been expanding, while for Paxos, it extends distribution beyond its usual channels. The partnership's significance lies in whether it shifts stablecoin market share dynamics, given USDG's current mid-tier ranking. The key watchpoint is how this reward-sharing model influences other L2s to pursue similar exclusive issuer deals, potentially reshaping competitive incentives across the network landscape.