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Arbitrum joined the Global Dollar Network on October 5, 2026, and the network says its US dollar-backed stablecoin, USDG, is natively issued on Arbitrum One. The announcement frames USDG as a prospective default dollar for Arbitrum DeFi—not proof that applications have already adopted it broadly. A related ArbitrumDAO proposal posted October 6 requests more ARB funding to support adoption; it is not evidence of an approved allocation.
What Arbitrum joining the Global Dollar Network means
Global Dollar Network announced that Arbitrum had joined as a Network partner. The announcement says USDG is natively issued on Arbitrum One, distinguishing this launch from a claim that a token has merely been bridged from another chain. It does not establish that every Arbitrum wallet, exchange, lending market, or DeFi application already supports USDG.
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The network describes USDG as a “default dollar” for Arbitrum’s DeFi ecosystem. That is its stated ambition, not an independent assessment of market share or integrations. The announcement identifies potential uses in liquidity and lending markets, as collateral for derivatives, and for institutional settlement. These are intended use cases; it does not report measured adoption across them. Global Dollar Network’s October 5 announcement
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USDG is a US dollar-backed stablecoin. Paxos introduced it in November 2024 as issued by Paxos Digital Singapore, which Paxos described as regulated by Singapore’s Monetary Authority of Singapore. The October 2026 network announcement also names Paxos Issuance Europe for the EU. These are statements by Paxos and the network; they are not independent verification of regulatory status in every jurisdiction. Paxos’s November 2024 introduction of USDG
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According to the October announcement, USDG is redeemable from Paxos one-to-one for US dollars, reserves are held in cash and cash equivalents in segregated accounts, and monthly reserve reports are published. Those descriptions come from the network announcement. The announcement does not establish redemption eligibility for every user or provide a complete account of redemption procedures, fees, or token-contract and bridge mechanics.
What the network says about USDG’s scale
On October 5, 2026, Global Dollar Network reported more than 150 partners and over $3 billion of USDG in circulation. These are network-reported figures, not independently audited figures in the announcement. October 5, 2026 announcement
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The network had made a separate milestone statement on July 21, 2026, reporting more than 150 partners, over $3 billion in circulation, and tens of millions in reward payouts. That earlier statement is a distinct dated report; its reward-payout figure should not be read as a user return or merged with the October announcement’s figures. July 21, 2026 milestone announcement
What the ArbitrumDAO proposal asks for
On October 6, Entropy posted an Arbitrum forum proposal titled “Adopting USDG as a Core Strategic Initiative for the ArbitrumDAO.” It asks for coordinated support for USDG adoption and an additional 100 million ARB for the DRIP budget. The available proposal material identifies this as a request, not a passed vote or funded program. Arbitrum forum proposal
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ArbitrumDAO funding therefore remains separate from the October 5 network announcement: joining the partner network and native issuance do not themselves approve the requested budget. The network’s 2024 launch announcement named Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos, and Robinhood among its founding partners and described the initial phase as invite-only for qualifying participants; that historical description does not establish current admission rules. Paxos’s November 2024 network launch announcement
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