💳 Mastercard takes a step towards stablecoins.
➡️ The company officially joined the Global Dollar Network consortium, which already includes Robinhood and Kraken.
➡️ Participants will now be able to issue the USDG stablecoin, backed by U.S. Treasury bonds.
➡️ Additionally, the Mastercard Move system will include support for other popular stablecoins: USDC (Circle), PYUSD (PayPal), and FIUSD (Fiserv).
➡️ Meanwhile, following the approval in the U.S. Senate of the first comprehensive law on stablecoins, shares of Mastercard and Visa fell by 5%.
Source: Crypto Scene Telegram
