RobinhoodApp-Backed USDG Stablecoin Surges 160% on Solana, Surpasses Supply on Ethereum Amid Rising User Interest

USDG stablecoin is experiencing significant growth on Solana, according to the new data reported today by market analyst Token Terminal. As per the data, the stablecoin supply on the Solana blockchain has surged by 160% over the past month, indicating rising user adoption.

USDG is a dollar-pegged stablecoin launched by a consortium popularly known as the Global Dollar Network. A group of fintech companies, including Robinhood, Paxos, Nuvei, Kraken, Digital Galaxy, Bullish, and Anchorage Digital, launched the network and its stablecoin on November 5^th, 2024. The partners united their resources and expertise to heighten stablecoin adoption and advance real-world applications with the rollout of the USDG stablecoin.

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USDG Stablecoin Supply on Solana Hits $350 Million

According to the Token Terminal data, USDG has continued its immense growth on Solana, with its supply increasing by 160% in the network. This positions USDG as a strong player to compete against the predominance of leading stablecoins like USDT and USDC.

As reported in the data, the supply of USDG on Solana has overtaken its supply on the Ethereum network. This means that USDG is now bigger in the Solana blockchain than Ethereum. As per the data, the supply of Solana-based USDG tokens has risen to $350 million. Meanwhile, the Token Terminal metrics show that Ethereum-based USDG tokens have a supply of $200 million.

The Global Dollar Network rolled out its USDG stablecoin on the Solana network on February 26^th, 2025. The launch was the network’s efforts to broaden the accessibility of the stablecoin to DeFi users across Web3. Its rollout on Solana was the consortium’s wider commitment to enable USDG to go multi-chain after its initial launch on the Ethereum blockchain.

USDG’s 160% month-over-month growth in its Solana-based supply signals a substantial surge in the utility and adoption of the stable token on the blockchain. This increase makes USDG one of the top stablecoins experiencing rapid customer usage.

USDG Rising Market Footprint

The consortium launched the USDG to solve limitations of existing stablecoins by pledging to offer returns to all users and operating an open network model that enables many partners to join. The Global Dollar Network also prioritized fulfilling institutional-level standards and user security.

On May 12^th, 2025, the consortium recruited additional new partners to join the network to help push the adoption of the USDG stablecoin. The new members included digital payment processing platform FOMO Pay, stablecoin payments company Beam, self-custody wallet provider Arculus, crypto custodian Zodia Custody, cryptocurrency exchange BitMart, and many others.

On July 1, the consortium launched the USDG stablecoin for customers across the EU region. The launch was the strategy by the company for USDG to battle for market share with regulated stablecoins, like USDC, which was the first to obtain a MiCA license.