Summary
- Fiserv announced its entry into the stablecoin market and plans to launch FIUSD and a related platform within the year.
- Already possessing a financial system that handles transactions worth trillions of dollars annually, Fiserv is expected to expand its influence using its payment network.
- Additionally, Fiserv is seeking collaboration with PayPal, emphasizing that access to the stablecoin market will become easier for small and mid-sized financial institutions.
Fintech giant Fiserv is entering the stablecoin (virtual assets pegged to fiat currencies) market.
On the 23rd (local time), The Wall Street Journal (WSJ) reported that Fiserv is working with stablecoin specialists Circle and Paxos, as well as Solana, to prepare its own stablecoin FIUSD and a platform to support it.
Given that Fiserv already has systems capable of handling financial transactions worth trillions of dollars annually, the stablecoin platform will leverage Fiserv’s payment network.
Fiserv is also pursuing separate collaboration with PayPal in this regard. PayPal issues the stablecoin PYUSD.
Takis Zoljakopoulos, COO of Fiserv, said, “This venture will democratize access to the stablecoin market” and explained, “It will make it easier for small and mid-sized financial institutions to participate.”
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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