Mastercard Integrates Fiserv’s New FIUSD Stablecoin into Global Payment Network

Fiserv Inc. (NYSE:FI) is one of the undervalued S&P 500 stocks to buy according to hedge funds. On June 24, Mastercard Incorporated (NYSE:MA) and Fiserv announced that the companies are expanding their partnership to integrate Fiserv’s new programmable and blockchain-based stablecoin, called FIUSD, into Mastercard’s global payment network.

The partnership will enable seamless on/off-ramping and allow consumers and businesses to easily transition between fiat currencies and FIUSD. Mastercard will also facilitate FIUSD as a settlement option for its global acquirers, which means that merchants can receive payments in FIUSD regardless of the original payment method used.

Mastercard Integrates Fiserv's New FIUSD Stablecoin into Global Payment Network

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A key component of this integration involves the Mastercard Multi-Token Network/MTN. Fiserv’s Digital Asset Platform, which is powered by Finxact, will use MTN to support programmable on-chain commerce for banks. Furthermore, the collaboration will lead to the issuance of stablecoin-linked cards and enable FIUSD transactions at any of the over 150 million Mastercard-accepting locations worldwide.

Fiserv Inc. (NYSE:FI) provides payments and financial services technology solutions internationally. Mastercard Incorporated (NYSE:MA) is a technology company that provides transaction processing and other payment-related products and services.

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Disclosure: None. This article is originally published at Insider Monkey.