Mastercard Taps Fiserv Stablecoin for ‘New Era’ of Payments
The post Mastercard Taps Fiserv Stablecoin for ‘New Era’ of Payments appeared on BitcoinEthereumNews.com. In brief Mastercard will adopt Fiserv’s stablecoin as part of a “new era” for payments. The announcement follows Circle’s blockbuster IPO. Crypto exchange Coinbase has leaned into the payments realm as lawmakers mull stablecoin legislation. Mastercard will tap Fiserv’s FIUSD stablecoin for its existing products and services, soon allowing more than 150 million merchants to use the dollar-pegged token, the payments giant said in a press release on Tuesday. “This work with Fiserv is setting the stage for a new era, where stablecoins are as ubiquitous and trusted as fiat currencies,” Mastercard Americas Co-President Chiro Aikat said in a statement. “We are creating a robust ecosystem.” Through a partnership, Mastercard and Fiserv will explore how business can “transition smoothly” between fiat currency and FIUSD, the company said. The firms will also assess how FIUSD can be used as a settlement option on a global scale in a way that “enhances operational efficiencies and delivers a seamless payment experience.” Meanwhile, Mastercard said that Fiserv’s stablecoin will seek to integrate FIUSD into Mastercard’s so-called Multi-Token Network, a blockchain designed for “off-the-shelf support for programmable, on-chain commerce for banks.” Finally, Mastercard will also issue “stablecoin-powered cards” leveraging FIUSD. In May, Mastercard introduced stablecoin cards with crypto payments firm MoonPay, following recent partnerships with crypto exchange OKX and stablecoin issuer Circle. Circle’s initial public offering has bolstered stablecoin hype in traditional finance circles, with the company’s stock changing hands 700% above its IPO price on Tuesday at roughly $250 per share, according to Yahoo Finance. The firm’s Wall Street debut took place 19 days ago, with Circle’s stock offered at $31 per share. Fiserv said that it would develop FIUSD on Monday alongside PayPal, describing the token as a “bank-friendly stablecoin” for “financial institutions of all sizes.” Mastercard’s announcement follows the U.S. Senate’s…
The post Mastercard Taps Fiserv Stablecoin for ‘New Era’ of Payments appeared on BitcoinEthereumNews.com.
In brief Mastercard will adopt Fiserv’s stablecoin as part of a “new era” for payments. The announcement follows Circle’s blockbuster IPO. Crypto exchange Coinbase has leaned into the payments realm as lawmakers mull stablecoin legislation. Mastercard will tap Fiserv’s FIUSD stablecoin for its existing products and services, soon allowing more than 150 million merchants to use the dollar-pegged token, the payments giant said in a press release on Tuesday. “This work with Fiserv is setting the stage for a new era, where stablecoins are as ubiquitous and trusted as fiat currencies,” Mastercard Americas Co-President Chiro Aikat said in a statement. “We are creating a robust ecosystem.” Through a partnership, Mastercard and Fiserv will explore how business can “transition smoothly” between fiat currency and FIUSD, the company said. The firms will also assess how FIUSD can be used as a settlement option on a global scale in a way that “enhances operational efficiencies and delivers a seamless payment experience.” Meanwhile, Mastercard said that Fiserv’s stablecoin will seek to integrate FIUSD into Mastercard’s so-called Multi-Token Network, a blockchain designed for “off-the-shelf support for programmable, on-chain commerce for banks.” Finally, Mastercard will also issue “stablecoin-powered cards” leveraging FIUSD. In May, Mastercard introduced stablecoin cards with crypto payments firm MoonPay, following recent partnerships with crypto exchange OKX and stablecoin issuer Circle. Circle’s initial public offering has bolstered stablecoin hype in traditional finance circles, with the company’s stock changing hands 700% above its IPO price on Tuesday at roughly $250 per share, according to Yahoo Finance. The firm’s Wall Street debut took place 19 days ago, with Circle’s stock offered at $31 per share. Fiserv said that it would develop FIUSD on Monday alongside PayPal, describing the token as a “bank-friendly stablecoin” for “financial institutions of all sizes.” Mastercard’s announcement follows the U.S. Senate’s…
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