[The concept of using stablecoins in the financial system] Mastercard (NYSE:MA [https://seekingalpha.com/symbol/MA]) is deepening its partnership with Fiserv (NYSE:FI [https://seekingalpha.com/symbol/FI]) to integrate its new FIUSD token across a range of Mastercard products and services, expanding stablecoin adoption and utility for their shared customers around the world. Fiserv (NYSE:FI [https://seekingalpha.com/symbol/FI]) shares jumped over 6% premarket after the announcement. The announcement comes a day after Fiserv (FI [https://seekingalpha.com/symbol/FI]) confirmed plans to launch [https://seekingalpha.com/news/4460678-fiserv-stock-pops-on-launch-of-new-stablecoin]a new digital asset platform, including a new stablecoin (FIUSD) that will be added to its existing banking and payments infrastructure by the end of the year. Through the latest pact, the companies will explore how Mastercard’s global network of financial institutions, including issuers and acquirers, can enable FIUSD across their solutions and a range of use-cases. Fiserv (FI [https://seekingalpha.com/symbol/FI]) has also forged similar partnerships [https://seekingalpha.com/news/4460731-fiserv-and-paypal-deepen-partnership-to-accelerate-stablecoin-payment-adoption]with Circle Internet Group (CRCL [https://seekingalpha.com/symbol/CRCL]) and PayPal (PYPL [https://seekingalpha.com/symbol/PYPL]) to power stablecoin payment.
In a landmark event for the cryptocurrency industry, the U.S. senate last week passed legislation that would create a regulatory framework for stablecoins - a type of digital token whose value is tied to an actual asset such as fiat money or gold. Source: Press Release [https://seekingalpha.com/pr/20145165-mastercard-partners-with-fiserv-to-accelerate-mainstream-stablecoin-adoption] MORE ON MASTERCARD, FISERV * Fiserv's FIUSD And PayPal's PYUSD: Expanding Stablecoin Payments Together [https://seekingalpha.com/article/4796649-fiserv-fiusd-and-paypal-pyusd-expanding-stablecoin-payments-together] * Mastercard: Stablecoin Loser (Double Downgrade) [https://seekingalpha.com/article/4796493-mastercard-stablecoin-loser-double-downgrade] * Fiserv: Business Is Firing On All Cylinders [https://seekingalpha.com/article/4795936-fiserv-business-is-firing-on-all-cylinders] * Tech Voices: Amazon's Kuiper, Fiserv, Wolfspeed, cybersecurity alert [https://seekingalpha.com/news/4461159-tech-voices-amazons-kuiper-fiserv-wolfspeed-cybersecurity-alert] * 4 stocks to watch on Monday: NVO, EXEL, BABA and FI [https://seekingalpha.com/news/4460791-4-stocks-to-watch-on-monday-nvo-exel-baba-and-fi]
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