Kraken Enables Native USDG Deposits and Withdrawals on Arbitrum One

Kraken enabled deposits and withdrawals for the Global Dollar ($USDG) on the Arbitrum One network on Oct. 29, 2026 ¹. The exchange announced that funding for the Paxos-issued stablecoin is active, adding Arbitrum One to its existing roster of supported networks ¹.

USDG operates as a US dollar-denominated stablecoin redeemable 1:1 for fiat US dollars, backed by cash and cash equivalents retained in segregated reserve accounts ¹. On Arbitrum One, Paxos mints USDG natively as an ERC-20 token rather than relying on a bridged contract from Ethereum ¹. This setup allows transactions between Kraken and Arbitrum One to settle directly, bypassing third-party bridging services as well as the standard waiting periods associated with the canonical Arbitrum bridge ¹. Trading for USDG was already operational on Kraken prior to this integration ¹.

Global Dollar Network Integration

USDG serves as the flagship asset for the Global Dollar Network, a consortium of cryptocurrency exchanges, fintech providers, and wallet platforms designed to boost the adoption of regulated digital dollars ¹. Kraken participates as a member of the network ¹. The move deepens ties between the consortium and the Ethereum layer-2 ecosystem, coming amid broader community initiatives such as an ArbitrumDAO proposal to adopt Paxos's USDG stablecoin across decentralized applications.

Kraken cautioned users that transfers made via unsupported networks will result in a permanent loss of funds, noting that geographic restrictions may govern availability ¹. The exchange maintained that it does not pre-announce upcoming assets outside of its public listings roadmap and social channels ¹. At the time of writing, native ecosystem asset Arbitrum ($ARB) traded at $0.1661, down 2.1% over the past 24 hours.