Dive Brief:
- Fiserv said Monday it will launch a digital asset platform – including a new stablecoin, dubbed FIUSD – alongside its existing payments infrastructure by year’s end, with no extra cost to merchant clients and financial institutions.
- In a related announcement, Fiserv and PayPal Holdings said they’ll partner “to build future interoperability” so consumers can move funds with the FIUSD coin on PayPal. The partnership aims to “expand the use of stablecoins and programmable payments around the globe,” the companies 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,” Chief Operating Officer Takis Georgakopoulos said Monday in the press release.