Paxos’s two flagship stablecoins, Global Dollar (USDG) and PayPal USD (PYUSD), jointly added $313.6 million in market capitalization during a 30-day period ending in mid-August 2026. USDG accounted for roughly $305 million of that growth, taking its total market capitalization to approximately $3.4 billion. Its circulating supply broadly matches that figure because the token is pegged 1:1 to U.S. dollar assets, including Treasuries and cash equivalents. USDG’s designation as the native stablecoin on Robinhood Chain helped drive rapid expansion, with supply reaching hundreds of millions on the network soon after the integration went live. Paxos operates both tokens through a zero-fee mint-and-redeem model; they are backed by U.S. dollar assets and overseen by the Office of the Comptroller of the Currency (U.S. banking regulator), with reserves attested monthly by Paxos. Visa’s 2025 decision to support USDG and PYUSD for payment settlement added institutional backing. PYUSD has also reached dozens of markets through PayPal’s existing payment network, which is used by hundreds of millions of people.