Kraken added deposit and withdrawal support for Global Dollar (USDG) on Arbitrum One, published on Kraken’s own blog on October 29, 2026 USDG is a US dollar-denominated stablecoin issued by P
Summary
- USDG trading itself was already available on Kraken before this update; what changed is the ability to move the token directly onto and off the Arbitrum One layer-two network through Kraken’s own rails.
- USDG is issued by Paxos, a regulated stablecoin issuer, and is part of the Global Dollar Network, a consortium of companies that includes Kraken among its members.
- The token is described as redeemable one-to-one for US dollars, with its reserves held in cash and cash-equivalent instruments in segregated accounts, a structure broadly similar to other major regulated dollar stablecoins.
- The notable technical detail in Kraken’s announcement is that Paxos issues USDG natively as an ERC-20 token directly on Arbitrum One, rather than issuing it only on Ethereum and relying on a bridge to move it over to the layer-two network.
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