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Paxos' USDG stablecoin hits $929M in DeFi deposits, surpassing $3B total circulation since 2024 launch

Protocol Fundamentals
18 Aug 2026
Crypto Briefing
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Bullish
Paxos' USDG stablecoin hits $929M in DeFi deposits, surpassing $3B total circulation since 2024 launch

Paxos' USDG stablecoin has quickly gained traction, reaching $929.2 million in deposits across decentralized finance (DeFi) platforms since its launch in November 2024. This milestone shows rapid adoption, with about one-third of its $3 billion total circulation actively used in lending and liquidity pools, generating yield. Regulated by Singapore's Monetary Authority and backed 1:1 by US dollars and liquid assets, USDG also features a unique revenue-sharing model benefiting network partners. Its growing integration with major DeFi protocols and multi-chain presence signals strong utility beyond traditional stablecoin uses.

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Bitcoin holds near $78,800, eyes key support at $75,500 before testing $82,000 resistance.

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