Fiserv announced that it will establish a new standard for stablecoin interoperability with PayPal, and FIUSD based on Solana will be launched at the end of the year!

Fiserv (NYSE ticker FI) announces that it will launch a new stablecoin called FIUSD on the Solana blockchain by the end of this year. This is a digital stablecoin supporting US dollar parity, specifically designed for banking financial institutions and commercial application scenarios. Fiserv will establish a long-term stablecoin partnership with PayPal, with the stablecoins from both companies being interoperable, further simplifying cross-border payments, merchant settlements, and instant payment processes.

Stablecoin First Natively Embedded in Global Financial Infrastructure

FIUSD will be directly integrated into the Fiserv platform, which processes over 9 billion transactions annually, covering the Clover POS system and digital platforms Experience Digital and Commercial Center. The FIUSD stablecoin will be deployed on the high-performance, low-latency Solana blockchain, combining technical support from Paxos and Circle to ensure interoperability and compliance with multiple stablecoin standards.

Through the built-in SDK, banks and merchants can easily integrate FIUSD and track transactions on the Finxact core ledger platform. The entire system will also extend Fiserv's existing fraud detection, risk management, and settlement control functions to ensure high security and regulatory compliance for stablecoin applications.

New Cross-Platform Interoperability Standard for FIUSD and PYUSD

Fiserv and PayPal are deepening their cooperation to expand stablecoin application scenarios, with FIUSD and PayPal's PYUSD achieving interoperability. After integration, they can support cross-border transfers, instant payments, and merchant settlements, improving global payment efficiency, shortening fund settlement times, and simplifying traditional processes.

FIUSD uses the stablecoin infrastructure from Paxos and Circle Internet Group, Inc. (NYSE: CRCL) to integrate financial transaction platforms. Fiserv's Chief Operating Officer Takis Georgakopoulos stated that Fiserv has unique advantages in advancing stablecoin payments, which can enhance banking service efficiency. Stablecoins and tokenized deposits combine blockchain's programmability with the stability and credibility of fiat currency, enabling 24/7 settlement and simplifying banking operations to improve efficiency, thus rapidly expanding in traditional banking and payment domains.

Walter Hessert, Paxos's Strategy Director, said Paxos is pleased to collaborate with Fiserv, combining platforms and networks to provide real-time solutions for global banks and agencies.

The FIUSD SDK is compatible with Fiserv's existing customers (Experience Digital and Commercial Center). FIUSD will achieve compliance through existing built-in functions such as fraud monitoring, risk management, and settlement control.