The payments processor, which is backed by the Caisse de dépôt et placement du Québec and Canadian actor Ryan Reynolds, will earn yield on a portion of the reserve assets for a new stablecoin called the Global Dollar, or USDG. (The Logic)

Talking point: Nuvei joins Toronto Stock Exchange-listed Galaxy Digital, Kraken, Robinhood, Anchorage Digital and Bullish in backing the stablecoin issued out of Singapore by crypto firm Paxos. Stablecoins, crypto assets whose value is typically pegged to the U.S. dollar, are being scrutinized by regulators around the world, including the Ontario Securities Commission. They are systemically important to crypto markets and can also be used to make payments by  consumers without bank accounts. The businesses behind USDG are billing the stablecoin as safe and compliant. Nuvei and other participants will earn income for encouraging adoption of USDG, unlike other stablecoins whose issuers keep interest from the reserves backing them.