Highlights

  • Mantle integrated Paxos-issued USDG as a natively minted stablecoin, joining the 150-plus partner Global Dollar Network.
  • xStocksFi launched on Mantle, letting users trade tokenized versions of major US stocks like Tesla, Nvidia and Apple around the clock.
  • Mantle's distributed real-world-asset value reached roughly $234.2 million as of early September, up 19% over the prior 30 days.
  • The network now counts more than 700 tokenized products spanning equities, ETFs, commodities, Treasuries and asset-backed credit.

Two RWA Launches in the Same Week

Mantle is stacking new real-world-asset infrastructure on top of its network in quick succession. The Ethereum layer-2 added Paxos-issued USDG as a natively minted stablecoin, joining the Global Dollar Network — a consortium of more than 150 partners that share in the stablecoin's distribution rewards. Days later, xStocksFi launched on Mantle, backed by BackedFi and Flowdesk, giving users around-the-clock access to tokenized versions of major US equities including Tesla, Nvidia and Apple, traded through the Fluxion network. Separately, Openstock has been cited as another platform extending access to tokenized stock products on the network, part of a broader cluster of RWA launches Mantle has rolled out this month.

Native Stablecoin Issuance Meets Tokenized Equities

Cointelegraph reported that the USDG integration, announced Sept. 3, makes Mantle one of the newest chains to natively mint the Paxos stablecoin rather than relying on a bridged version, a distinction that matters for capital efficiency since natively minted stablecoins avoid the smart-contract risk and liquidity fragmentation that comes with wrapped or bridged assets. Mantle's total distributed RWA value stood at roughly $234.2 million as of Sept. 3, a 19% increase over the prior 30 days, according to the same reporting — a pace of growth that outstrips much of the broader RWA sector over the same window.

Related: Robinhood Chain Stablecoins Jump $400M as Weekly Volume Hits $10.5B

The xStocksFi launch adds a different category of asset to that mix: equities rather than stablecoins or credit instruments. Ten leading US stocks are currently supported through the platform, each represented on-chain with an "x" suffix — TSLAx, NVDAx, AAPLx and others — designed to track their reference security's price continuously, including outside traditional US market hours. Mantle's broader RWA ecosystem now spans more than 700 tokenized products in total, according to the network, covering equities, exchange-traded funds, commodities, US Treasuries and asset-backed credit, a scale comparable to what the broader tokenized-stock sector has added in recent weekly growth figures.

Why Chains Are Sequencing Stablecoins Before Stocks

The stacking of a native stablecoin integration with a tokenized-equity launch in the same week reflects a deliberate sequencing strategy that's become common among layer-2 networks chasing RWA volume: a natively minted, deeply liquid stablecoin gives a chain the settlement rail it needs before tokenized equities or other RWA products can attract meaningful trading volume, since most tokenized-stock trading ultimately settles in stablecoins rather than the chain's native gas token. By securing USDG issuance and joining the Global Dollar Network's partner rewards program first, Mantle is positioning itself to capture a share of stablecoin-driven fee revenue even before xStocksFi's tokenized-equity volume matures.

For the broader RWA and DeFi landscape, Mantle's approach adds another data point to a trend playing out simultaneously on Robinhood Chain, BNB Chain and several Ethereum layer-2s: chains are increasingly competing on which one can offer the deepest, most liquid on-ramp into tokenized traditional assets rather than competing purely on transaction throughput or gas costs. A chain's RWA total value, in that framing, functions similarly to a bank's assets under management — a proxy for how much real capital trusts the platform enough to hold tokenized, real-world value there, comparable to how RWA volume has scaled on other major DeFi venues this year.

What Comes Next

The next milestone to watch is whether Mantle's RWA total continues compounding at a similar pace once xStocksFi's tokenized-equity volume is reflected in the network's on-chain metrics, since the $234.2 million figure predates the xStocksFi launch. Traders will also be watching how quickly USDG liquidity deepens on Mantle now that it's natively minted, since thin stablecoin liquidity can cap how much tokenized-equity trading volume a chain can realistically support regardless of how many products it lists. If Mantle's RWA value clears $300 million in the coming weeks, it would mark one of the faster RWA growth trajectories among mid-sized layer-2 networks this year.

FAQ

What is USDG on Mantle?
USDG is a Paxos-issued stablecoin that Mantle now mints natively, making it a member of the 150-plus partner Global Dollar Network.

What is xStocksFi?
xStocksFi is a platform launched on Mantle, backed by BackedFi and Flowdesk, that lets users trade tokenized versions of major US stocks around the clock through the Fluxion network.

How much real-world-asset value does Mantle hold?
Mantle's distributed RWA value stood at roughly $234.2 million as of Sept. 3, up 19% over the prior 30 days, and the network hosts more than 700 tokenized products in total.

Which stocks are available through xStocksFi?
xStocksFi currently supports 10 leading US stocks, including Tesla, Nvidia and Apple, each represented on-chain with an "x" suffix such as TSLAx.