The stablecoin market has a new momentum story, and it is being written by Paxos. The company’s two flagship tokens, Global Dollar (USDG) and PayPal USD (PYUSD), together added $313.6 million in combined market capitalization over a single 30-day window ending in mid-August 2026.
USDG is doing the heavy lifting
Of the $313.6 million in combined growth, USDG accounted for roughly $305 million, leaving PYUSD a smaller but still meaningful slice of the expansion.
USDG’s total market cap now sits at approximately $3.4 billion, with a circulating supply that mirrors that figure given its 1:1 peg to USD assets including Treasuries and cash equivalents.
A key driver of USDG’s growth is its designation as the native stablecoin on Robinhood Chain. After that integration went live, USDG’s supply on the network climbed to hundreds of millions within a short period.
