Fiserv, a Wisconsin-based provider of payments and financial services technology, has announced plans to launch a digital asset platform by the end of the year.
As part of this platform, the company will introduce a new stablecoin, FIUSD, which will be integrated into its existing banking and payments infrastructure.
The stablecoin is intended to offer Fiserv clients a more efficient and interoperable method of handling digital assets within their banking and payments operations.
FIUSD will be made available through Fiserv’s global network, which includes around 10,000 financial institutions and six million merchant locations, processing 90 billion transactions annually.
The company said clients will be able to access the stablecoin through existing technology at no additional cost.
Fiserv plans to use infrastructure from Paxos and Circle Internet Group to support FIUSD, aiming to ensure interoperability with several leading stablecoins.
It will also be made available via the Solana blockchain.
The company is also considering the use of deposit tokens as an alternative structure that may be more capital-efficient for banks.
“Through our privileged position as a trusted infrastructure provider to financial institutions, merchants, and their customers worldwide, we are relentlessly focused on delivering state-of-the-art innovation, efficiency, and choice to all of our partners,”
said Takis Georgakopoulos, Chief Operating Officer at Fiserv.
“With our scale, reach, and technology leadership, Fiserv is uniquely positioned to advance stablecoin-powered payments and help democratise access to blockchain financial services.”
The stablecoin will be delivered through a Software Development Kit (SDK) and is designed to integrate with Fiserv’s platforms, including Experience Digital and Commercial Center.
It will include compliance features such as fraud monitoring, risk management, and settlement controls.
The platform will operate using Fiserv’s Finxact core processing system and will be linked to its cloud-based orchestration, payments, and banking infrastructure, forming an integrated fiat and digital network.
Featured image credit: Edited by Fintech News America, based on image by Freepik
