Fiserv Announces Launch of FIUSD Stablecoin on Solana Blockchain
Fiserv announced plans to launch a new digital asset platform and stablecoin, FIUSD, aimed at its 10,000 financial institution clients and 6 million merchant locations. Key details include:
- FIUSD will debut later this year.
- The stablecoin will operate on the Solana blockchain, utilizing infrastructure from Circle and Paxos.
- It will interoperate with other leading stablecoins and explore the use of blockchain-based deposit tokens.
- FIUSD is designed as "bank-friendly," integrating compliance and risk monitoring tools.
- Fiserv is partnering with PayPal to link FIUSD with PayPal USD, facilitating cross-border transfers and payments.
- This initiative aligns with global banks' efforts to incorporate blockchain technology and stablecoins into their services.
- The U.S. Senate's passage of the GENIUS Act aims to regulate stablecoins, further influencing this trend.