According to CoinDesk sources, payment giant Visa is set to join the Global Dollar Network (USDG) — a stablecoin consortium initiated by U.S.-regulated digital asset firm Paxos.
Current members of USDG include major players in crypto and fintech such as Robinhood, Kraken, Galaxy Digital, Anchorage Digital, Bullish (owner of CoinDesk), and Nuvei.
Visa will be the first traditional financial institution to join the consortium. So far, the company has not commented on the decision. Paxos also declined to confirm, citing confidentiality around potential partners.
The stablecoin sector is increasingly seen as highly profitable, especially amid growing regulatory clarity. Standard Chartered predicts that if legislation passes in the U.S., the market size could surge from $236.2 billion to $2 trillion by 2028.
Such explosive growth may trigger demand for U.S. Treasury bills worth up to $1.6 trillion — or around $400 billion annually — potentially making stablecoin issuers the largest buyers of government debt.
Currently, the stablecoin market is dominated by two issuers:
- Tether (USDT), which retains profit from reserves
- Circle (USDC), known for transparency and compliance
Unlike Tether, USDG proposes sharing interest income with participating companies that help build liquidity and infrastructure in the network.
Major payment networks are deepening their crypto involvement. Visa is reportedly in talks to integrate card services into World Network wallets, while Mastercard is collaborating with MetaMask, Mercuryo, and Kraken to enable seamless crypto payments in the UK and Europe.