Fiserv in Milwaukee plans to form a digital asset platform that will include a stablecoin.
The company said in a press release that it aims to add the stablecoin, to be called FIUSD, to its banking and payments infrastructure by the end of the year. FIUSD expects to use stablecoin infrastructure from Paxos and Circle Internet Group.
“We are relentlessly focused on delivering state-of-the-art innovation, efficiency, and choice to all of our partners,” Takis Georgakopoulos, Fiserv’s chief operating officer, said in the release.
“With our scale, reach, and technology leadership, Fiserv is uniquely positioned to advance stablecoin-powered payments and help democratize access to blockchain financial services,” he added. “Together with our other cloud-native banking and merchant platforms, we believe FIUSD will provide our clients with the efficiency and optionality they need to thrive in the evolving banking and payments ecosystem.”