Fiserv plans to launch stablecoin FIUSD this year and establish cooperation with Circle and PayPal

Odaily News Fiserv, a US fintech company, announced that it will launch the stablecoin FIUSD this year and plans to integrate it into existing banking and payment infrastructure. FIUSD will be based on the stablecoin technology provided by Paxos and Circle, and will cooperate with PayPal. In the future, it will realize the interoperability between FIUSD and PayPal USD (PYUSD), supporting users to transfer money at home and abroad.
The move comes just after the U.S. Senate passed the important stablecoin legislation "GENIUS Act", which analysts believe could be a turning point in crypto regulation and bring a breakthrough to an industry that has long been plagued by policy uncertainty. After the news was announced, Circle's stock price rose 15%, Fiserv and PayPal rose 2.3% and 1.7% respectively. (Reuters)