Visa Joins USDG Stablecoin Consortium

The global stablecoin race among the largest fintech companies is gaining momentum.

Visa has joined the Global Dollar Network consortium behind the USDG stablecoin. The organization, established in November 2024, initially included Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Robinhood, and Paxos.

Paxos serves as the issuer of the stablecoin. The custodian of USDG reserves is DBS Bank, the largest bank in Southeast Asia. The token itself is regulated by the Monetary Authority of Singapore.

A key feature of USDG is the distribution of revenue among network participants—not just end users. The profit share of each company depends on its contribution to the development of the asset.

As of today, the market capitalization of the Global Dollar stands at $245.7 million, placing the token in the third tier of the stablecoin segment.

One of USDG’s closest competitors is RLUSD by Ripple, launched in December 2024, with a market cap of $294 million. Another is PYUSD by PayPal, which has been active since August 2023 and has a circulating supply of $890 million.

As a reminder, at Selwix, we believe that global banks, investment funds, and major fintech companies have entered a full-fledged "stablecoin race." Visa’s involvement in such a promising crypto project once again confirms this trend.

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