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8h ago

Mastercard Integrates Fiserv’s FIUSD into Global Dollar Network

Mastercard will enable FIUSD on its global payment rails for remittances through its Multi-Token Network under new federal stablecoin rules.

Raj Dhamodharan, executive vice president at Mastercard, at a crypto conference in 2023.
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Overview

  • Fiserv plans to launch its bank-friendly stablecoin, FIUSD, by the end of 2025 on the Solana blockchain with Paxos and Circle providing back-end infrastructure and built-in fraud monitoring and risk controls.
  • Fiserv and PayPal have agreed to make FIUSD interoperable with PayPal USD (PYUSD) to streamline domestic and cross-border stablecoin transfers.
  • Mastercard has joined the Paxos-led Global Dollar Network and will integrate FIUSD alongside PYUSD and USDG into its payments, card products and cross-border settlement services.
  • The U.S. Senate’s passage of the GENIUS Act has spurred a flurry of stablecoin initiatives from major financial firms by clarifying a federal regulatory framework for tokenized dollars.
  • The stablecoin market has expanded to a $271 billion capitalization as traditional payment networks adopt programmable, blockchain-based settlement tools.