Visa Joins USDG Stablecoin Consortium, Expanding Its Role in Global Digital Currency Race

Visa has joined the consortium behind the USDG stablecoin, known as the Global Dollar Network. This information comes from CoinDesk, citing its own sources.

The organization, established in November 2024, initially included Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Robinhood, and Paxos.

Paxos took on the role of the stablecoin’s issuer, with the largest bank in Southeast Asia, DBS Bank, serving as the custodian for USDG’s reserves. The token is regulated by the Monetary Authority of Singapore.

A distinctive feature of USDG is its income distribution model, which focuses on network participants rather than end-users. The company’s profits are tied to its contributions to the asset’s development.

According to CoinGecko, the Global Dollar’s market capitalization stands at $245.7 million. This places the coin within the top three hundred cryptocurrencies and the top thirty stablecoins based on market cap.

For example, USDG trails behind RLUSD from Ripple, launched in December 2024, which boasts a market cap of $294 million. Additionally, PYUSD from PayPal, operational since August 2023, has already reached a market cap of $890 million.

As a reminder, the Financial Times reports that global banks and fintech companies are competing in a «stablecoin race.»