Visa joins Paxos USDG alliance to boost cross-border payments
Traditional finance accelerates its digital partnerships
Global payment giant Visa has officially joined the Global Dollar Network (USDG) alliance launched by Paxos, marking a significant step toward integrating traditional finance (TradFi) with blockchain platforms.
By joining the alliance, Visa aims to enhance its cross-border payments system using USDG, boosting liquidity and cooperation among participants while moving away from the traditional Tether revenue capture model.
Visa’s Head of Crypto, Cuy Sheffield, highlighted the benefits of stablecoins in streamlining international commerce, while Paxos CEO Charles Cascarilla emphasized USDG’s community-driven model.
“The use of stablecoins like USDC and public blockchains accelerates cross-border settlement and fosters innovation in global payment systems.” — Cuy Sheffield, Head of Crypto, Visa
Traditional finance accelerates its digital partnerships
Visa’s USDG integration builds on its prior collaboration with USDC, potentially helping optimize real-time settlement and expand crypto adoption within conventional payment networks.
According to CoinMarketCap, USDG currently has a market capitalization of $245.7 million and $1.55 million in 24-hour trading volume.
The collaboration with a global payments leader like Visa is expected to significantly strengthen USDG’s position in the competitive stablecoin ecosystem.
The partnership represents a mutually beneficial bridge between traditional finance and digital assets.
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