American tech giant Visa Inc. is pushing further into the stablecoin payments niche. The company has added new support for USDG and Paypal USD (PYUSD) through a partnership with Paxos, offering more ways to settle transactions using digital dollars.
This move is poised to increase the competition among stablecoin issuers in the United States.
Visa Adds USDG Support, Targets Growing Demand
According to its official statement, Visa has teamed up with Paxos to bring USDG and PYUSD, two stablecoins backed by U.S. dollars, onto its settlement platform.
This move is in response to rising interest from fintech and crypto companies that want faster ways to move money without relying only on banks.
As disclosed, many of these companies are already working with the Global Dollar Network, which promotes the use of digital dollars across borders. It is worth noting that this partnership adds to the growing list of collaborations Visa has embarked on this year.
In January, Elon Musk’
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