USD Coin vs Global Dollar — side-by-side comparison of supply, chains, backing, and peg data.
| Metric | USDC | USDG |
|---|---|---|
| USD circulation value | $73.47B | $3.26B |
| Rank (by USD value) | #2 | #7 |
| Peg | USD | USD |
| Mechanism | fiat-backed | fiat-backed |
| Backing | Cash & T-bills | Cash reserves (Paxos) |
| Chains deployed | 154 | 6 |
| Primary chain | Ethereum | X Layer |
| Issuer | USD Coin | Global Dollar |
| CoinGecko | View → | View → |
Both USDC and USDG track USD, but they differ in backing and issuer. USDC is backed by cash & t-bills while USDG is backed by cash reserves (paxos). As of today, USDC ranks #2 and USDG ranks #7 among tracked stablecoins.
USDC is larger, with $73.47B in circulation vs $3.26B for USDG. That's roughly 22.6× the size.
Neither USDC nor USDG is inherently "safer" — safety depends on the specific backing composition, issuer transparency, redemption rights, and regulatory oversight. USDC uses fiat-backed backing model; USDG uses fiat-backed. Users should read each issuer's most recent reserve attestation before choosing.
Yes. USDC and USDG both trade on major centralized and decentralized exchanges. Since both track USD, the exchange rate is typically very close to 1:1. Direct swap protocols on Ethereum, Solana, and other chains offer the tightest spreads.
The right choice depends on your use case. Consider: which chain do you need? USDC is available on 154 chains and USDG on 6. What backing do you prefer? What's your integration surface (exchanges, DeFi protocols, payment providers)? Both have deep liquidity, so market cap alone shouldn't decide it.