"Visa to Join Paxos Stablecoin Network USDG... First Traditional Finance Participation"

Minseung Kang

Summary

"Visa is reportedly set to join the Paxos-led USDG network, drawing attention."
"If Visa joins USDG, it will enter the cryptocurrency market as the first traditional financial institution."
"Visa's participation is expected to enhance the connectivity and liquidity of the USDG network."

American payment giant Visa is reportedly set to join the stablecoin consortium 'USDG (Global Dollar Network)' led by Paxos.

On the 14th, cryptocurrency-focused media outlet CoinDesk reported, citing sources, "Visa will join USDG along with Robinhood, Kraken, and Galaxy Digital." If Visa participates, it will be the first traditional financial institution to join USDG.

USDG is a network led by Paxos, composed of multiple participating companies creating connectivity and liquidity together. Currently, major cryptocurrency and fintech companies such as Robinhood, Kraken, and Galaxy Digital are participating in USDG.

Additionally, Visa is reportedly collaborating on technology with Sam Altman's Worldcoin (WLD) project.

Meanwhile, Visa has not released an official statement regarding this report. A Paxos spokesperson also stated, "We cannot comment on potential partnerships."