Visa joins the Global Dollar Network (USDG), a stableecoin consortium called by US regulated digital asset company Paxos along with cryptocurrency and fintech heavy weights such as Robinhood, Kraken and Galaxy Digital, according to two people familiar with the plans.

Visa is the first traditional funding known to join USDG, whose original cohort of members also includes Anchorage Digital, Bullish (the owner of Coindesk) and Nuvei.

The StableCOin business, whose lucrative potential opens up several companies in the midst of regulatory changes, has been dominated by the first and second largest issuers of USD-Pegged-tokens, Tether’s USDT and its smaller siblings Circle with USDC.

The USDG is designed to share the yield with participant companies that can create connection and liquidity, as opposed to Tether, for example, which retains the interest gained from its stableecoin reserves.

The large map networks have been busy collaborating in the crypto area. Visa was recently reported to help Sam Altmans World Network, and MasterCard is working on the non-parent wallet Metamask.

Visa did not respond to requests for comment. A representative of Paxos said the company cannot comment on potential partners.

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