Visa Is Joining the Paxos, Robinhood Stablecoin Consortium: Sources

BTC

$85,200.87

0.87%

ETH

$1,674.41

4.42%

USDT

$0.9998

0.01%

XRP

[Action required] Your RSS.app Trial has Expired.

Binance Australia Restores Direct Bank and PayID Transfers for User

Trove Investors Seek Refunds After Perps Pivot to Solana

Nasdaq Tells Canaan to Boost Share Price or Face Delisting

$2.1667

–

0.65%

BNB

$591.44

0.67%

SOL

$134.15

3.18%

USDC

$0.9999

0.00%

DOGE

$0.1666

1.02%

TRX

$0.2557

3.41%

ADA

$0.6529

0.39%

LEO

$9.4126

0.16%

LINK

$13.18

2.30%

AVAX

$20.58

3.71%

XLM

$0.2462

–

0.74%

SUI

$2.3388

–

0.02%

SHIB

$0.0₄1239

0.80%

HBAR

$0.1705

–

0.63%

TON

$2.8402

–

0.82%

BCH

$339.82

–

2.21%

LTC

$78.79

–

0.27%

Finance

Share this article

By Ian Allison|Edited by Aoyon Ashraf

Apr 14, 2025, 12:44 p.m.

Visa is the first traditional finance incumbent known to be joining the USDG consortium.
USDG will share out yield to participant firms that can create connectivity and liquidity.

Visa is joining the Global Dollar Network (USDG), a stablecoin consortium convened by U.S. regulated digital asset firm Paxos, alongside cryptocurrency and fintech heavyweights like Robinhood, Kraken and Galaxy Digital, according to two people familiar with the plans.

Visa is the first traditional finance incumbent known to be joining USDG, whose initial cohort of members also includes Anchorage Digital, Bullish (the owner of CoinDesk) and Nuvei.

Story continues

Don’t miss another story.Subscribe to the Crypto for Advisors Newsletter today.See all newslettersBy signing up, you will receive emails about CoinDesk products and you agree to ourterms of useandprivacy policy.

The stablecoin business, whose lucrative potential is opening up to more firms amid regulatory change, has been dominated by the first and second largest issuers of USD-pegged tokens, Tether’s USDT and its smaller sibling Circle with USDC.

USDG is designed to share the yield with participant firms that can create connectivity and liquidity, unlike Tether, for example, which retains the interest gained from its stablecoin reserves.

The large card networks have been busy partnering in the crypto space. Visa was recently reported to be helping Sam Altman’s World Network, and Mastercard is working with the non-custodial wallet MetaMask.

Visa did not respond to requests for comment. A representative of Paxos said the firm can not comment on prospective partners.

Ian Allison is a senior reporter at CoinDesk, focused on institutional and enterprise adoption of cryptocurrency and blockchain technology. Prior to that, he covered fintech for the International Business Times in London and Newsweek online. He won the State Street Data and Innovation journalist of the year award in 2017, and was runner up the following year. He also earned CoinDesk an honourable mention in the 2020 SABEW Best in Business awards. His November 2022 FTX scoop, which brought down the exchange and its boss Sam Bankman-Fried, won a Polk award, Loeb award and New York Press Club award. Ian graduated from the University of Edinburgh. He holds ETH.