Mastercard joins stablecoin alliance Global Dollar Network, increasing support for stablecoins such as USDG

According to Foresight News, according to Fortune magazine, Mastercard has joined the Global Dollar Network, a stablecoin alliance that includes online brokerage Robinhood and cryptocurrency exchange Kraken. The alliance was established in November 2024 by cryptocurrency company Paxos and six other partners, allowing members to mint or create the network's stablecoin USDG, which is a cryptocurrency pegged to the US dollar. The members of the alliance share the interest earned by the reserves (usually US treasury bond bonds) supporting the stable currency. Mastercard stated that in addition to USDG, it will also increase support for the PayPal token PYUSD and the recently launched stablecoin FIUSD by banking technology provider Fisvev. Mastercard has previously supported the stablecoin USDC issued by Circle Corporation. Mastercard also stated that it is adding stablecoins to its cross-border remittance network called Mastercard Move, whose customers include MoneyGram. The remittance company has not yet responded to a request for comment on whether it plans to allow its customers to send or receive these tokens.