Fiserv to launch digital asset platform with new stablecoin by year-end
Fiserv, a provider of payments and financial services technology, has announced plans to launch a new digital asset platform.
The platform will include a stablecoin, FIUSD, set to be integrated into Fiserv's banking and payments infrastructure by the end of 2025.
Fiserv said FIUSD will provide its customers with access to an interoperable digital asset service.
This service will support banking and payment transactions across the company's global network.
Fiserv's network connects approximately 10,000 financial institutions and six million merchant locations, processing 90 billion transactions annually. This scale will enable FIUSD to be widely adopted, allowing clients to create new products and services, the company noted.
The company will enable FIUSD using its existing technology, at no additional cost to clients.
The stablecoin will leverage infrastructure from Paxos and Circle Internet Group.
FIUSD aims to be interoperable with several leading stablecoins and will be available via the Solana blockchain, a trusted platform for stablecoin transactions.
Fiserv is also exploring deposit tokens to offer stablecoin benefits in a capital-efficient structure for banks. The company is discussing partnerships to expand use cases for stablecoins and tokenised deposits.
These discussions span the US and international markets.
Fiserv noted that stablecoins and tokenised deposits combine blockchain programmability with fiat currency stability.
This combination supports 24/7 settlement, streamlines processes, and enhances efficiency. It also enables use cases where current solutions may fall short.
Fiserv chief operating officer Takis Georgakopoulos said: 'With our scale, reach, and technology leadership, Fiserv is uniquely positioned to advance stablecoin-powered payments and help democratise access to blockchain financial services.
'Together with our other cloud-native banking and merchant platforms, we believe FIUSD will provide our clients with the efficiency and optionality they need to thrive in the evolving banking and payments ecosystem.'
"Fiserv to launch digital asset platform with new stablecoin by year-end" was originally created and published by Electronic Payments International, a GlobalData owned brand.
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