tl;dr
Mastercard will use Fiserv’s FIUSD stablecoin across its products and services, enabling over 150 million merchants to accept the dollar-pegged token. The partnership aims to facilitate smooth transitions between fiat currency and FIUSD, explore global settlement options, and integrate FIUSD into Ma...
Mastercard has partnered with Fiserv to integrate the FIUSD stablecoin into its existing products, enabling over 150 million merchants to accept the dollar-pegged token. This collaboration aims to create a seamless transition between fiat currency and FIUSD, exploring global settlement options to enhance operational efficiencies and payment experiences.
The partnership includes plans to incorporate FIUSD into Mastercard’s Multi-Token Network blockchain, designed to support programmable, on-chain commerce for banks. Mastercard will also issue stablecoin-powered cards utilizing FIUSD, expanding its offerings following recent collaborations with MoonPay, OKX, and Circle.
FIUSD, developed by Fiserv in conjunction with PayPal, is positioned as a bank-friendly stablecoin tailored for financial institutions of all sizes. This announcement aligns with the U.S. Senate’s passage of the GENIUS Act, legislation aimed at regulating stablecoin issuers and potentially increasing competition from traditional financial firms by August.
Meanwhile, the traditional finance sector is showing heightened interest in stablecoins, as demonstrated by Circle’s IPO surge, with stock prices rising dramatically since its recent Wall Street debut. Crypto exchanges like Coinbase are also expanding their payment partnerships, exemplified by its new alliance with ecommerce platform Shopify, further integrating crypto commerce into mainstream financial systems.