Paxos Labs recently launched USDG0, a fully chain-extended version of its regulated USDG stablecoin, providing fully backed dollar liquidity for Hyperliquid, Plume, and the Aptos network through LayerZero's OFT standard.
Paxos Labs announced on Tuesday via the X platform that USDG0 expands the functionality of USDG. USDG, issued by Paxos and managed by the global dollar network as a 1:1 dollar-backed stablecoin, can now be extended to new blockchain networks without the need to create separate wrapped versions.
By adopting LayerZero's OFT standard, USDG0 can flow across blockchains as a single native asset while maintaining the same regulatory protections and backing mechanisms as USDG on Ethereum (ETH), Solana (SOL), Ink, and X Layer.
Paxos Labs pointed out that this initial launch demonstrates how different networks can access the economic system of this stablecoin. On the Hyperliquid platform, USDG0 will support yield-consistent trading and new lending markets, while Plume and Aptos plan to utilize it to support modular DeFi, tokenized yields, and enterprise-grade stablecoin channels.
In these three ecosystems, USDG0 is designed to enable applications to embed dollar liquidity into their products, obtain yields linked to treasury benchmarks, and achieve cross-chain value transfer without relying on traditional bridging.
The company stated that this initiative represents "how regulated infrastructure meets the composability needs of DeFi and how trusted currencies can truly achieve borderless circulation."
Since 2018, Paxos has processed over $180 billion in tokenized activities under the supervision of global regulators. The company currently regulates three types of dollar-backed stablecoins: USDP, PayPal's PYUSD, and USDG.
Regulatory clarity under the U.S. GENIUS Act and the European crypto asset market (MiCA) framework has significantly driven the rapid growth of stablecoin adoption. According to DefiLlama, the market capitalization of stablecoins has reached $303.44 billion, an increase of nearly $100 billion since the beginning of the year.
While the stablecoin market is still dominated by Tether's USDt and Circle's USDC, several new participants have entered the field globally this year.
In October, Western Union announced plans to launch USDPT, a dollar-pegged stablecoin issued by Anchorage Digital Bank on the Solana network. This token aims to connect the company's digital and fiat payment channels and support its global cash flow and treasury operations.
In the same month, Tokyo-based fintech company JPYC launched Japan's first yen-backed stablecoin—a token pegged 1:1 to the yen, supported by bank deposits and government bonds.
In Europe, a coalition of nine banks announced in September that they would launch a euro-pegged stablecoin to address the growing influence of dollar-backed stablecoins. This stablecoin is expected to be officially launched in the second half of 2026.
Related: Figment and OpenTrade launch Solana-based stablecoin products targeting an annual yield of 15%
Original article: “Paxos Launches USDG0, Expanding Regulated Stablecoin to Multiple Blockchains”
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