Following Fiserv's (FI, Financial) announcement of its new stablecoin, FIUSD, Mastercard (MA) has revealed plans to integrate this digital currency into its products and services. This collaboration aims to enhance the adoption and utility of stablecoins for their global clients.
Both companies are set to explore critical areas to address challenges and opportunities associated with stablecoin adoption. Chiro Aikat, Co-President of Mastercard Americas, emphasized that this partnership is laying the groundwork for a new era where stablecoins become as ubiquitous and trustworthy as fiat currencies, driving choice and innovation for everyone.
Takis Georgakopoulos, Fiserv's Chief Operating Officer, highlighted that partnering with Mastercard will help financial institutions and merchants offer more payment options to customers, thereby promoting the broader reach and utility of stablecoins. Fiserv plans to launch FIUSD by the end of the year.
In recent trading, Fiserv's stock rose by 1.3%, following a 4.4% increase the previous day. Mastercard's stock also saw an increase of approximately 2.5%.
