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Visa Steps into Stablecoin Arena, Joins Paxos-Led Global Dollar Network
Visa Steps into Stablecoin Arena, Joins Paxos-Led Global Dollar Network
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Payment processing giant Visa is making a significant foray into the stablecoin ecosystem by joining the Global Dollar Network (USDG), a consortium led by Paxos. This move positions Visa as the first traditional financial institution to become part of USDG, which includes major players in the crypto and fintech sectors such as Robinhood, Kraken, Galaxy Digital, Anchorage Digital, Bullish, and Nuvei. The formation of USDG represents a novel approach to the stablecoin business, dominated by Tether’s USDT and Circle’s USDC. Unlike Tether, USDG is designed to share the generated yield with participating firms.
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