Fiserv is expanding its digital assets platform, making it accessible to more financial institutions by the end of the year through a new stablecoin called FIUSD. This move is anticipated to significantly boost the number of banks and credit unions that can offer crypto services.

FIUSD and Stablecoin Partnership

The FIUSD stablecoin will be integrated with Fiserv’s ecosystem and launched on Solana, a blockchain platform renowned for its speed and lower transaction costs compared to Ethereum. This collaboration leverages the strengths of Paxos and Circle in building a robust infrastructure for stablecoins.

Upcoming Blockchain Upgrade

Solana is set to undergo a substantial upgrade this year that will enhance its performance, potentially making it faster than established payment networks like Visa and Mastercard. This improvement could make Solana the go-to blockchain for financial institutions seeking efficient transaction solutions.

Building Interoperability and Global Reach

Fiserv aims to establish interoperability with other stablecoins, starting with a partnership with PayPal’s PYUSD. By combining Fiserv’s extensive network of financial institutions with PayPal’s global customer base, both companies aim to accelerate the adoption of their respective stablecoins.

Focus on Compliance and Tokenization

FIUSD is designed with a compliance-first approach, offering banks and credit unions full control over their transactions. Fiserv believes this will facilitate smoother regulatory adherence, making it easier for financial institutions to engage in crypto-related activities.

Fiserv also sees potential in tokenizing real-world assets through its platform. This technology could simplify complex and costly banking processes, aligning with the growing interest in stablecoins among traditional financial institutions.