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fiserv It sets a major gateway to the Stablecoin market.
The payments and fintech giant announced on Monday it plans to roll out a new blockchain-based digital asset platform fixed by a stubcoin, which is imposed in US dollars, called FIUSD.
The new product is designed to plug directly into Fiserv’s vast global network. It already processes 90 billion transactions per year at 10,000 financial institutions and 6 million merchant locations.
By burning Stablecoin support into existing banks and payment rails, Fiserv aims to quickly adopt a blockchain-based money movement without requiring clients to overhaul their infrastructure or pay additional fees.
FIUSD will be first launched from Paxos using the Stablecoin infrastructure Round -The latter has enjoyed a surge in the stock market since its IPO last month.
Circle, publisher USD coinrose 6% on Monday to around $250 per share. When trading began on June 5th, it was 700% above the IPO price of $31.
“Fiserv is a global commerce powerhouse, Circle is a global fintech company and Stablecoin market leader,” said Heath Tarbert, president of Circle. “Together, we will strive to unlock the frontier of our next financial movement. To embed Suchankon into everyday commerce and move money easily, reliably and instantly, as if sending email.”
Launch positions Fiserv as one of the first major payment infrastructure providers to provide Stablecoin tools at scale, transforming the way banks and merchants resolve transactions, send remittances, and provide customers with 24/7 digital dollars.
Fiserv coins are also compatible Solana Blockchain is a popular choice for Stablecoin transactions thanks to its speed and low cost.
Fiserv said the long-term goal is to make FIUSD work seamlessly with other major stubcoins, and ultimately provide a version that will help banks move their money more efficiently under existing regulations.
Executives said the offer was built to meet the needs of traditional financial institutions, not startups from crypto.
“FIUSD is designed with clients in mind. It is a financial institution-friendly coin that simplifies Stablecoin access through a secure and scalable ecosystem,” says Sunil Sachdev, Fiserv’s embedded financial director.
Features like fraud monitoring, risk management, and payment compliance are built in from the start. Fiserv’s Cloud-Native Finxact platform serves as the underlying ledger.
The release comes as Congress warms up to stablecoins.
The Senate passed the Genius Act last week, moving it forward to the House of Representatives, demonstrating increased support for the institutional use of tokenized dollars.
Watch: Stablecoin Ahowdown moves to the House of Representatives after Senate clears crypto landmark bill
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