Fiserv, a global leader in payments and financial technology, is launching its own stablecoin, FIUSD, by the end of the year. The stablecoin will initially launch on the Solana blockchain and is specifically designed for use by financial institutions. This development is part of Fiserv's broader strategy to roll out a new digital asset platform that will be integrated into its extensive existing infrastructure, which serves approximately 10,000 financial institutions and six million merchant locations.

FIUSD is being developed in partnership with established stablecoin issuers Circle and Paxos, who will provide the underlying infrastructure. This collaboration ensures that the new stablecoin will be built on a compliant and trusted foundation. For Fiserv's clients, this means a more seamless way to access and utilize digital assets for payments and other transactions. The launch of a 'bank-friendly' stablecoin by a player of Fiserv's scale signals a significant step forward in the convergence of traditional finance and the digital asset economy. It also highlights the growing trend of leveraging blockchain technology to improve the efficiency and reduce the costs of B2B payments.