Fidelity National Information Services Inc. (FIS) revealed its collaboration with Circle Internet Group Inc., consolidating Stablecoin-based transactions for banks and financial companies.
FIS wants to support US banks to enable customers to send local and international payments at Circle’s USDC. Himal McWana, the global head of FIS’s corporate strategy based in Jacksonville, Florida, said this time it’s no longer a Fringe– It’s becBased on all parts of financial services. He added that Stablecoins are much more developed and focused on addressing real client challenges.
FIS incorporates USDC into the money movement hub
FIS plans to add USDC to its Money Movement Hub, a tool that allows banks to access a variety of payment networks. The service will be available by the end of the year, according to the company. Financial leaders also link real-time transaction and fraud detection services with circles’ distributed infrastructure to streamline the transition to digital assets.
Jim Johnson, what?-preSident’s FIS banking solution said its collaboration with Circle demonstrates its commitment to helping financial companies with solutions of innovative tools that speed up transactions, reduce costs and enhance security. He added that it will enable clients to provide flexible payment solutions while complying with regulations.
The alliance opens the circle’s wide market, recognizes potential reach to financial institutions connected via FIS, and processes transactions worth $10 trillion each year. Kash Razagi, the chief business officer of the New York-based circle, argued that the collaboration will allow for the growth and distribution of USDC, primarily due to its trustworthy status with its customer base.
Fiserv Inc. is launching a new Stablecoin using Circle and the Paxos infrastructure
In addition to FIS, Fiserv has also partnered with Circle. In June, Fiserv Inc. announced the launch of Stablecoin in collaboration with PayPal Holdings Inc. and Circle Internet Group Inc.
According to the company, customers will have access to FIUSD Stablecoin by the end of the year. Fiserv currently serves 10,000 banks and 6 million merchant locations, offering immediate benefits in expanding adoption and rolling out new products.
The FIUSD design supports interaction with other stubcoins, leaving room for future collaboration beyond PayPal. It is built on the Paxos and Circle’s Stablecoin framework and is delivered to clients via the Solana Network.
The company has announced a new digital asset solution powered by the Finxact core banking platform, designed to allow financial institutions to manage and track Stablecoin and deposit token transactions. It can also support wallet integration within current banking applications.
Fiserv’s Chief Operating Officer Takis Georgakopoulos noted that digital dollars alone have limited value as long as they can be accessed through a bank account. He added that the initiative is intended to help thousands of partner banks provide ridiculous wallets and accounts to clients, including small institutions and credit unions across the US and around the world.
Fiserv is still exploring ways to support deposit tokens, aiming to grant stubcoin benefits to banks while maintaining regulatory compliance and maintaining capital gains associated with traditional deposits. Georgakopoulos noted that it was dangerous to see that if the bank cannot adapt to the ongoing crypto trends, it could lose clients.