Key Takeaways
- Fiserv is launching the FIUSD stablecoin and digital asset platform, integrating with its existing banking and payments infrastructure by year-end.
- The FIUSD platform will leverage technology from Paxos, Circle, and Solana to enable compliant, instant, and borderless stablecoin payments.
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Fiserv, a top-ranked payment processing company, plans to launch a new digital asset platform and stablecoin called FIUSD by the end of this year, according to a Monday press release.
FIUSD will be powered by the infrastructure of Paxos and Circle, and targets interoperability with other stablecoins, as noted by Fiserv. The company intends to launch its flagship stablecoin on Solana.
With the upcoming rollout of FIUSD, which will leverage the efficiency of blockchain and the trust and compliance of traditional banking, Fiserv aims to modernize money movement by enabling real-time, programmable payments across its vast network of financial institutions and merchants.
The fintech provider currently serves approximately 10,000 financial institutions and six million merchant locations, processing 90 billion transactions annually. Fiserv plans to enable FIUSD through its existing technology at no additional cost to clients.
“We are relentlessly focused on delivering state-of-the-art innovation, efficiency, and choice to all of our partners,” said Takis Georgakopoulos, Chief Operating Officer of Fiserv. “With our scale, reach, and technology leadership, Fiserv is uniquely positioned to advance stablecoin-powered payments and help democratize access to blockchain financial services.”
Fiserv noted that it is actively exploring partnerships with other firms to expand stablecoin and tokenized deposit use cases across the US and internationally.
The company is evaluating deposit tokens as a more capital-efficient option tailored to the needs of banks. In line with this trend, JPMorgan Chase announced last week that it will pilot JPMD, a stablecoin-style deposit token, on Base for its institutional clients.
“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,” Georgakopoulos added.
Discussing the move, Circle President Heath Tarbert said the goal is to make sending money as fast, frictionless, and trustworthy as email. The vision is to have stablecoins used in routine payments.
The platform will leverage Fiserv’s Finxact core processing platform as the underlying ledger, connecting to cloud-native orchestration, payments, and banking platforms. The FIUSD stablecoin will integrate fraud monitoring, risk management, and settlement controls.
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