Mastercard Adopts Fiserv Stablecoin

By Adriano MarcheseMastercard is adopting Fiserv's blockchain-based token across the range of its products, allowing merchants and shoppers to use digital assets for transactions.The payment card services company said Tuesday that it has expanded its partnership with Fiserv to integrate its new FIUSD token across Mastercard products and services.The move aims to expand stablecoin adoption and utility for their shared customers, granting them access to a new interoperable digital asset services for banking and payments.A stablecoin is a type of cryptocurrency designed to maintain a stable value by being pegged to a reference asset such as the U.S. dollar.The new partnership with Fiserv, a payments and financial technology, will allow consumers and merchants to transition between tradition methods of payment, such as fiat currencies, and FIUSD.Chiro Aikat, co-president of Americas at Mastercard said the company seeks to create an ecosystem that bridges traditional financial services with digital assets.Write to Adriano Marchese at [email protected]