Bill McColl
1 min read
In This Article:
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Mastercard said it was expanding its relationship with Fiserv to promote the financial tech company's planned stablecoin, FIUSD.
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Fiserv announced yesterday it expects to have FIUSD available by the end of this year.
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The two companies explained they hope to expand stablecoin adoption.
A day after Fiserv (FI) announced it was planning to launch a new stablecoin called FIUSD, one of the financial technology firm's big customers is jumping on board.
Mastercard (MA) on Tuesday said it is deepening its relationship with Fiserv in order "to integrate its new FIUSD token across a range of Mastercard products and services, expanding stablecoin adoption and utility for their shared customers around the world."
It added that the two companies would work together to "explore key areas to solve for real-world challenges and opportunities for stablecoin adoption and utility."
Chiro Aikat, co-president of the Americas for Mastercard, argued that the collaboration "is setting the stage for a new era, where stablecoins are as ubiquitous and trusted as fiat currencies, driving choice and innovation for all."
Fiserv COO Takis Georgakopoulos explained that working with Mastercard will promote "greater reach and utility of stablecoins by helping our financial institutions and merchants enable greater payments choice to their customers."
Fiserv plans to make FIUSD available by the end of the year.
Shares of Fiserv advanced 1.3% in recent trading after gaining 4.4% yesterday. Mastercard shares were about 2.5% higher.
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