Visa Joins USDG Stablecoin Consortium
Date: 2025-04-15 Author: Gabriel Deangelo Categories: BUSINESS
Visa has become the newest member of the Global Dollar Network consortium behind the USDG stablecoin, CoinDesk reported, citing sources familiar with the situation.
The Global Dollar Network began operations in November 2024 and already unites a number of well-known companies in the crypto industry, including Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Robinhood, and Paxos. The latter is the issuer of the USDG stablecoin, and DBS Bank, the largest banking institution in Southeast Asia, is responsible for storing reserves. The token is regulated by the Monetary Authority of Singapore.
One of the key features of USDG is its unique revenue distribution model: profits are shared between network participants, and not with end users. The amount of income received depends on the contribution of each company to the development of the asset ecosystem.
At the time of publication, USDG has a market cap of $245.7 million, according to CoinGecko. The token is ranked in the top 200 overall among cryptocurrencies and in the top 30 among stablecoins. This puts USDG below some other recently launched assets, such as Ripple’s RLUSD, which launched in December 2024 and has already reached $294 million in market cap. PayPal’s PYUSD, which was launched in August 2023, is performing even better, with a market cap of $890 million.
The Financial Times previously noted that global banks and leading fintech companies are actively joining the competition for leadership in the stablecoin sector, viewing it as a strategic direction for future growth.
Visa’s joining the consortium confirms the growing interest of traditional financial players in digital assets and indicates the growing influence of stablecoins in the global financial system.
