Visa Enters the Stablecoin Arena: First Major Traditional Finance Player Joins USDG Consortium

Visa has joined Paxos’ stablecoin network, becoming the first major traditional financial firm to do so. This move signals a significant shift in the landscape as large players from the finance world are increasingly embracing stablecoins. Visa’s entry joins a growing list of members including Robinhood, Kraken, Galaxy Digital, Anchorage Digital, Bullish (CoinDesk’s parent company), and Nuvei. 8 500% increase in USDG usage within the first year following launch signifies Paxos’ success in fostering this new kind of dollar-backed token ecosystem.