Fiserv announces plans to launch stablecoin in partnership with Circle, PayPal

PANews June 24 news, according to Reuters, financial technology company Fiserv (FI.N) announced on Monday that it plans to launch the stablecoin FIUSD by the end of the year and integrate it into the existing banking and payment infrastructure. It is reported that FIUSD will rely on the stablecoin infrastructure provided by Paxos and Circle Internet (CRCL.N). Some brokerage firms pointed out that with the increasing expectations of the passage of the GENIUS Act, Fiserv’s announcement of the launch of stablecoins is quite appropriate. In addition, Fiserv also stated that it has reached a cooperation with PayPal (PYPL.O) to achieve interoperability between FIUSD and PayPal USD (PYUSD) so that consumers and businesses can more conveniently transfer funds at home and abroad.