Visa (V) Joins Paxos and Robinhood Stablecoin Consortium: Sources

Visa Joins Paxos and Robinhood Stablecoin Consortium: Sources

The Paxos Global Dollar Network (USDG) also features Kraken, Galaxy Digital, Anchorage Digital, Bullish (owner of CoinDesk), and Nuvei.

Author: Ian Ellison | Edited by: Aoyon Ashraf Updated: April 14, 2025, 12:57 PM Published: April 14, 2025, 12:44 PM

Key points:

• Visa becomes the first major traditional financial institution to join the USDG consortium.
• USDG will share revenue among participants who can establish connections and liquidity.

Visa is joining the Global Dollar Network (USDG), a stablecoin consortium founded by regulated U.S. digital asset company Paxos, along with major crypto and fintech players Robinhood, Kraken and Galaxy Digital, according to two people familiar with the plans.

Visa is the first major traditional financial institution to join USDG, with the initial group of participants also including Anchorage Digital, Bullish (owner of CoinDesk), and Nuvei.

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The stablecoin space, which is opening up lucrative opportunities for more companies as regulations change, is dominated by two major issuers of U.S. dollar-pegged tokens: Tether's USDT and its smaller rival Circle's USDC.

USDG is designed to distribute yield among participants who can create connections and liquidity, unlike Tether, which keeps interest earned on its stablecoin reserves.

Major payment networks are actively pursuing cryptocurrency partnerships. Visa was recently reported to be backing Sam Altman’s World Network, while Mastercard is partnering with non-custodial wallet MetaMask.

Visa did not respond to requests for comment. A Paxos spokesman said the company could not comment on potential partners.

Read more: Stablecoins are the 'WhatsApp moment' for remittances, claims a16z

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