Fiserv plans to launch stablecoin FIUSD this year and establish partnerships with Circle and PayPal
Odaily Planet Daily News: U.S. fintech company Fiserv has announced plans to launch the stablecoin FIUSD within the year and intends to integrate it into existing banking and payment infrastructure. FIUSD will be based on stablecoin technology provided by Paxos and Circle, and Fiserv has reached a partnership with PayPal to enable interoperability between FIUSD and PayPal USD (PYUSD) in the future, supporting domestic and international transfers for users.
This move comes as the U.S. Senate passes the significant stablecoin legislation known as the "GENIUS Act." Analysts believe this bill could mark a turning point in crypto regulation, offering a breakthrough for an industry long plagued by policy uncertainty. Following the announcement, Circle's stock price rose 15%, while Fiserv and PayPal shares increased by 2.3% and 1.7%, respectively. (Reuters)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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