Visa joins the Global Dollar Network (USDG), a Stablecoin consortium summoned by the American regulated digital asset company Paxos, alongside cryptocurrency and Fintech heavy goods vehicles like Robinhood, Kraken and Galaxy Digital, according to two families with plans.
Visa is the first traditional finance holder known for joining the USDG, whose initial member cohort also includes digital anchorage, Bulsh (the owner of Coindesk) and Nuvei.
The activity of Stablecoin, whose lucrative potential opens up to more companies in the midst of regulatory change, was dominated by the first and second emitters of tokens with USD, USDT of Tether and his small brother circle with USDC.
The USDG is designed to share the performance with participating companies that can create connectivity and liquidity, unlike Tether, for example, which retains the interests obtained from its Stablecoin reserves.
Large networks of cards have been busy associating in the cryptographic space. Visa has recently been reported to help the global network of Sam Altman, and Mastercard works with the non -guardian portfolio Metamask.
Visa did not respond to requests for comments. A PAXOS representative said that the firm cannot comment on potential partners.
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