Visa is joining the Global Dollar Network (USDG), a stablecoin consortium convened by U.S. regulated digital asset firm Paxos, alongside cryptocurrency and fintech heavyweights like Robinhood, Kraken and Galaxy Digital. Visa is the first traditional finance incumbent known to be joining USDG. USDG is designed to share the yield with participant firms that can create connectivity and liquidity, unlike Tether, for example, which retains the interest gained from its stablecoin reserves. The stablecoin business, whose lucrative potential is opening up to more firms amid regulatory change, has been dominated by the first and second largest issuers of USD-pegged tokens, Tether’s USDT and its smaller sibling Circle with USDC. The large card networks have been busy partnering in the crypto space.