Mastercard isn’t waiting for crypto companies to supplant its massive payment network. Instead, it’s joining them. On Tuesday, the publicly traded company announced that it had entered the stablecoin consortium Global Dollar Network, which includes the online brokerage Robinhood as well as the crypto exchange Kraken.
Launched in November 2024 by the crypto company Paxos and six other partners, the consortium lets members mint, or create, the network’s stablecoin USDG, a cryptocurrency pegged to the U.S. dollar. Members of the group share the interest earned from the reserves backing the stablecoin, which are usually U.S. Treasuries.
