Mastercard and Fiserv Partner to Drive Adoption of Stablecoin FIUSD: A New Era of Payments Innovation
Mastercard and Fiserv, two of the leading financial technology companies, have announced a strategic partnership to promote the adoption of the latter's planned stablecoin, FIUSD. The collaboration aims to expand the use of stablecoins and solve real-world challenges and opportunities for their application.
Fiserv recently announced that it expects to have FIUSD available by the end of this year. The new stablecoin is designed to provide a stable and reliable alternative to traditional fiat currencies, offering greater flexibility and innovation in the payments industry.
The partnership between Mastercard and Fiserv will enable the integration of FIUSD across a range of Mastercard products and services, expanding its reach and utility for shared customers around the world. Chiro Aikat, co-president of the Americas for Mastercard, noted that the collaboration would help address real-world challenges and opportunities for stablecoin adoption.
Fiserv's COO Takis Georgakopoulos explained that working with Mastercard would promote greater reach and utility of stablecoins by helping financial institutions and merchants enable greater payments choice for their customers. The financial tech company plans to make FIUSD available by the end of the year.
The shares of both companies have shown positive movement in recent trading. Fiserv's shares advanced 1.3% in recent trading after gaining 4.4% yesterday, while Mastercard shares were about 2.5% higher.
The partnership between Mastercard and Fiserv is setting the stage for a new era where stablecoins are as ubiquitous and trusted as fiat currencies, driving choice and innovation for all. With the collaboration between these two giants, we can expect to see more developments and advancements in the use of stablecoins in the coming days.
Read more about this exciting partnership on Investopedia.
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