USDG deposits and withdrawals now available on Arbitrum One!
By KrakenFX
AI summary of the source article
Kraken now supports deposits and withdrawals of Global Dollar (USDG) on the Arbitrum One network. The stablecoin is issued natively on Arbitrum One by Paxos, allowing direct settlement without third-party bridges.
Why it matters
Deposits and withdrawals between Kraken and Arbitrum One "settle directly, without a third-party bridge or the canonical bridge’s withdrawal period."
Key facts
- Kraken has enabled USDG deposits and withdrawals on the Arbitrum One network.
- Paxos issues USDG natively on Arbitrum One as an ERC-20 token rather than bridging it from Ethereum.
- USDG is a US dollar-denominated stablecoin redeemable one-to-one for US dollars with reserves in segregated cash and cash equivalents.
Source excerpt · Kraken blog
Global Dollar (USDG) is now supported on Arbitrum — a fast, low-cost Ethereum layer-2 network. Native issuance, no bridge required. The post USDG deposits and withdrawals now available on Arbitrum One! appeared first on Kraken Blog .