Kraken added deposits and withdrawals of Global Dollar (USDG) on Arbitrum One for eligible customers on October 29. According to the exchange, Paxos issues this version of USDG natively on Arbitrum, avoiding the need to bridge an Ethereum token before using it on the network. Trading in USDG was already available on Kraken: the update concerns only how customers can transfer the asset between the platform and blockchain wallets. USDG is described as a dollar-denominated stablecoin redeemable one-to-one and backed by cash and cash equivalents held in segregated accounts. The integration simplifies access to the network but does not change USDG’s total supply or guarantee strong liquidity or meaningful adoption by applications on Arbitrum.
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