Fiserv Inc., a major player in global payments and financial services, has unveiled plans to launch a USD-pegged stablecoin called FIUSD on the Solana blockchain, according to a June 23 statement.
The Nasdaq-listed company stated that the stablecoin was built using infrastructure from Paxos and Circle. It is expected to go live by the end of 2025 and will be integrated into its existing banking and payments infrastructure.
According to the announcement, FIUSD will operate within Fiserv’s global network, which includes over 10,000 financial institutions and six million merchants. The company says this will allow instant scalability and fast adoption while offering clients a reliable new channel for digital asset transfers.
Fiserv describes FIUSD as a compliance-friendly, interoperable tool to enhance traditional banking services.
The digital asset has built-in features such as fraud detection, risk controls, and real-time settlement, which are expected to help financial institutions retain oversight while adopting digital payment rails.
The launch will also explore how deposit tokens can support stablecoin features in a capital-efficient way for banks.
Takis Georgakopoulos, the Chief Operating Officer at Fiserv, said:
“With our scale, reach, and technology leadership, Fiserv is uniquely positioned to advance stablecoin-powered payments and help democratize 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.”
Partnership with Circle
As part of the rollout, Fiserv is partnering with Circle, the issuer of USDC, to strengthen the back-end infrastructure of the FIUSD stablecoin initiative.
Through this collaboration, Fiserv aims to extend access to Circle’s regulated stablecoin ecosystem, enabling real-time settlement and expanding global payment capabilities across its user base.
This move allows financial institutions and merchants within the Fiserv ecosystem to tap into Circle’s network for cross-border and domestic transactions. Circle’s infrastructure will bridge traditional finance and internet-native payments, delivering low-cost, high-speed settlement via FIUSD.
Jeremy Allaire, Circle’s CEO, said:
“Fiserv is a trusted leader in enabling money movement across the financial ecosystem. By integrating with Circle’s infrastructure, Fiserv is positioned to extend the benefits of stablecoin-based payments and open internet finance to thousands of financial institutions.”
Mentioned in this article
Credit: Source link