Mastercard has expanded its collaboration with Fiserv to incorporate the FIUSD token, a new programmable blockchain-based stablecoin, into its global payment network.
The partnership aims to address the practical use cases and challenges associated with the adoption of stablecoins.
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It aims to facilitate the transition between fiat currencies and FIUSD for both consumers and businesses for on/off-ramping processes.
Mastercard will also enable FIUSD as a settlement option for its global acquirers, allowing merchants to receive payments in FIUSD regardless of the payment method used.
Mastercard Americas co-president Chiro Aikat stated: “Leveraging the power of the Mastercard network, as well as our deep capabilities across digital assets, we are creating a robust ecosystem that bridges traditional financial services with digital assets.
“Underpinned by our commitment to providing seamless, secure and programmable transactions, we are excited to bring Fiserv’s FIUSD to our customers, consumers and businesses around the world.”
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By GlobalDataThe collaboration will leverage the Mastercard Multi-Token Network (MTN), allowing Fiserv’s Digital Asset Platform, which is powered by Finxact, to support programmable on-chain commerce for banks.
Furthermore, it will issue stablecoin-linked cards, permitting the use of FIUSD for transactions at any Mastercard-accepting location around the world.
Mastercard One Credential will also be available, providing consumers with the option to select their preferred payment method, including stablecoin balances, in addition to traditional debit and credit.
Fiserv chief operating officer Takis Georgakopoulos said: “FIUSD presents Fiserv customers with access to a new, more efficient, and interoperable digital asset service for their banking and payment flows.
“Our work with Mastercard is promoting greater reach and utility of stablecoins by helping our financial institutions and merchants enable greater payments choice to their customers.”
This expansion follows the Fiserv announcement to launch a new digital asset platform by the end of 2025.
The platform will include the FIUSD stablecoin and is set to be integrated into Fiserv’s existing banking and payment infrastructure.
