USDG, the dollar stablecoin issued by Paxos, saw growth of $93.9 million on Robinhood Chain over the past 30 days, making it the fastest-growing chain for USDG supply. The total market cap of the stablecoin on this network reached approximately $333 million by the end of July, growing from zero to $333 million in just one month. This growth is driven by Robinhood’s Earn product, which offers users an annual yield of approximately 7% on USDG holdings through self-custodial lending routed via Morpho vaults. Meanwhile, the Amplify Transit tool facilitated nearly $30 million in stablecoin conversions during its first two weeks of operation.
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