💳 The company Visa has become a participant in the Global Dollar Network consortium behind the USDG stablecoin. This is reported by CoinDesk, citing its own sources.

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

The latter acted as the issuer of the 'stablecoin.' The custodian of the USDG reserves is DBS Bank, the largest bank in Southeast Asia, and the token is regulated by the Monetary Authority of Singapore.

A feature of USDG is the distribution of income among network participants (not end users). The company's profit size depends on its contribution to the asset's development.

According to CoinGecko, the market capitalization of Global Dollar is $245.7 million. In terms of this metric, the coin ranks in the third hundred among cryptocurrencies and in the third decade of the stablecoin segment.

USDG, for example, lags behind the RLUSD from Ripple launched in December 2024 with $294 million. The PYUSD from PayPal, operational since August 2023, already has a market offering of $890 million.

Let us remind you that the FT believes that global banks and fintech companies have entered the 'stablecoin race.'