Montreal-based payments processor Nuvei has joined forces with prominent cryptocurrency firms to support the Global Dollar (USDG), a new stablecoin issued by Paxos in Singapore. Backed by the Caisse de dépôt et placement du Québec and actor Ryan Reynolds, Nuvei will earn yield from a portion of USDG’s reserve assets.
Other supporters include Galaxy Digital, Kraken, Robinhood, Anchorage Digital, and Bullish. Stablecoins, typically pegged to the U.S. dollar, are under global regulatory scrutiny, including by the Ontario Securities Commission. USDG is promoted as a safe, compliant option, with participants earning income by fostering its adoption.
Want to know more? Check out the source code on The Logic.