Paxos-issued USDG adds $94M on Robinhood Chain in 30 days

Robinhood Chain launched on July 1, 2026, and the stablecoin it was built around is already pulling serious numbers. USDG, the Paxos-issued Global Dollar stablecoin, grew by $93.9 million on Robinhood Chain in the past 30 days alone, making it the single fastest-growing chain for USDG supply.

From zero to $333M in one month

In the first week after launch, more than $178 million worth of USDG was issued on Robinhood Chain. By the end of July, the stablecoin’s total market cap on the network had climbed to roughly $333 million.

The driver is straightforward: Robinhood’s Earn product, which launched alongside the chain, offers users around 7% annual percentage yield on USDG holdings. The yield comes through self-custodial lending, routed via Morpho vaults.

What USDG actually is

USDG is issued by Paxos entities operating under regulatory oversight in Singapore and Europe. It is backed 1:1 by cash and high-quality liquid assets, primarily US Treasuries.

Robinhood Chain itself is built on Arbitrum, making it an Ethereum Layer-2 network optimized for tokenized assets and on-chain finance.

Amplify Transit and the liquidity infrastructure

Alongside USDG’s growth, Paxos Labs introduced a tool called Amplify Transit on Robinhood Chain in mid-July. The tool is designed to simplify conversions between USDG and other stablecoins. In its first two weeks, Amplify Transit facilitated close to $30 million in stablecoin conversions.

For Paxos, the Robinhood partnership is a significant distribution win. USDG’s $333 million market cap, achieved in a single month, validates Paxos’s strategy of partnering with consumer platforms that bring their own distribution rather than trying to build a user base from scratch.

The 7% APY on USDG also introduces a competitive dimension that regulators and traditional banks have been watching closely. Robinhood has positioned itself carefully, emphasizing that USDG is issued under existing regulatory frameworks in Singapore and Europe, and that the Earn product operates through self-custody mechanics that differ from traditional deposit-taking.