Fintech Firm Fiserv Taps PayPal and Circle to Power Its Stablecoin
0Stablecoin
With US regulations advancing, Fiserv plans to offer tokenized dollar solutions for payments, remittances and invoice reconciliation.
Crypto Reporter
Shalini Nagarajan
Crypto Reporter
Shalini Nagarajan
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Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.
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Fiserv, one of the largest fintech firms in the US, announced plans Monday to launch its own US dollar-backed stablecoin, FIUSD. The company is teaming up with PayPal and Circle to expand digital asset services across its banking and payments network.
It aims to roll out the token by the end of the year, tapping into infrastructure provided by Paxos and Circle.
FIUSD will initially run on the Solana blockchain. Also, it will be integrated with Fiserv’s existing digital platforms, including its Finxact core banking engine.
The move comes just days after the US Senate passed long-awaited stablecoin legislation, signaling growing institutional confidence in regulated digital dollar equivalents.
Partnership Eyes Cross-Border Payments Using FIUSD and PYUSD.
As regulatory clarity improves in Washington, Fiserv appears poised to act swiftly. It aims to provide financial institutions and merchants with new ways to settle payments. In addition, it plans to support remittances and invoice reconciliation using tokenized dollars.
Additionally, the partnership with PayPal includes plans to explore joint use of FIUSD and PYUSD, which launched in 2023. Now, both firms...
https://cryptonews.com/news/fiserv-taps-paypal-circle-stablecoin-initiative/
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