According to Gate News bot, FinanceFeeds reports that payment giant Fiserv plans to launch a fiat-backed stablecoin FIUSD on the Solana blockchain by the end of the year, aimed at providing real-time, around-the-clock settlement for its global network of banks and merchants.
The token will operate on the infrastructure developed by Paxos and Circle and will be integrated into Fiserv's core banking services to serve nearly 10,000 financial institutions and more than 10 million merchants globally.
The company describes FIUSD as a "programmable currency" aimed at reducing the inefficiencies of traditional payment systems and supporting instant settlement. At the same time, Fiserv is also exploring tokenized deposit products aimed at helping banks reduce capital requirements.
At the time of this statement, the U.S. Congress is about to pass its first federal stablecoin legislation. Last week, the Senate approved the bipartisan "Stablecoin Act" (GENIUS Act), which is currently awaiting a vote in the House of Representatives. The bill requires that stablecoins must be fully backed by cash or U.S. Treasury securities, undergo routine audits, and comply with strict anti-money laundering regulations.
President Donald Trump supports this bill and urges lawmakers to submit it to him immediately. His administration has taken a noticeably more favorable stance towards cryptocurrency, encouraging American businesses to advance blockchain-based payments and digital asset innovation.
As several large companies, including Amazon and Walmart, are also paying attention to the launch of stablecoins, Fiserv's early actions may position it favorably among regulatory clarity companies in the United States and abroad.
In Europe, stablecoins fall under the MiCA framework, which limits the usage of non-euro stablecoins to €20 billion per day. However, partnerships with licensed issuers like Fiserv and Circle may help the company meet compliance standards on both sides of the Atlantic.
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Payment giant Fiserv plans to launch the FIUSD stablecoin on Solana by the end of the year.
According to Gate News bot, FinanceFeeds reports that payment giant Fiserv plans to launch a fiat-backed stablecoin FIUSD on the Solana blockchain by the end of the year, aimed at providing real-time, around-the-clock settlement for its global network of banks and merchants.
The token will operate on the infrastructure developed by Paxos and Circle and will be integrated into Fiserv's core banking services to serve nearly 10,000 financial institutions and more than 10 million merchants globally.
The company describes FIUSD as a "programmable currency" aimed at reducing the inefficiencies of traditional payment systems and supporting instant settlement. At the same time, Fiserv is also exploring tokenized deposit products aimed at helping banks reduce capital requirements.
At the time of this statement, the U.S. Congress is about to pass its first federal stablecoin legislation. Last week, the Senate approved the bipartisan "Stablecoin Act" (GENIUS Act), which is currently awaiting a vote in the House of Representatives. The bill requires that stablecoins must be fully backed by cash or U.S. Treasury securities, undergo routine audits, and comply with strict anti-money laundering regulations.
President Donald Trump supports this bill and urges lawmakers to submit it to him immediately. His administration has taken a noticeably more favorable stance towards cryptocurrency, encouraging American businesses to advance blockchain-based payments and digital asset innovation.
As several large companies, including Amazon and Walmart, are also paying attention to the launch of stablecoins, Fiserv's early actions may position it favorably among regulatory clarity companies in the United States and abroad.
In Europe, stablecoins fall under the MiCA framework, which limits the usage of non-euro stablecoins to €20 billion per day. However, partnerships with licensed issuers like Fiserv and Circle may help the company meet compliance standards on both sides of the Atlantic.