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Fiserv and Mastercard intend to launch cards associated with stablecoins for joint customers, enabling both consumers and businesses to execute FIUSD payments at any location that accepts Mastercard.
Digital currencies were created partly to lower transaction expenses for both merchants and customers compared to the charges imposed by conventional payment methods such as Mastercard and Visa Inc. However, they are collaborating with innovators in the development and management of digital currencies to provide their own offerings based on cryptocurrencies, which are gaining popularity.
Fiserv, known for creating financial technology and services for banks, revealed on Monday the introduction of its stablecoin named FIUSD in collaboration with Circle Internet Group Inc. and Paxos Trust Co. The firm additionally stated it is cooperating with PayPal Holdings Inc. to “develop future interoperability” between FIUSD and PayPal USD (PYUSD), a stablecoin designed for consumers and businesses to move funds within the U.S. and internationally.
source: marketwatch.com
Digital currencies were created partly to lower transaction expenses for both merchants and customers compared to the charges imposed by conventional payment methods such as Mastercard and Visa Inc. However, they are collaborating with innovators in the development and management of digital currencies to provide their own offerings based on cryptocurrencies, which are gaining popularity.
Fiserv, known for creating financial technology and services for banks, revealed on Monday the introduction of its stablecoin named FIUSD in collaboration with Circle Internet Group Inc. and Paxos Trust Co. The firm additionally stated it is cooperating with PayPal Holdings Inc. to “develop future interoperability” between FIUSD and PayPal USD (PYUSD), a stablecoin designed for consumers and businesses to move funds within the U.S. and internationally.
source: marketwatch.com