US EditionStablecoins ‘Perform Poorly’ as Money, Central Banks Warn
- Fiserv Inc. announced on June 23 plans to launch FIUSD, a U.S. dollar-pegged stablecoin on the Solana blockchain integrated into its payment network.
- This launch follows growing interest in stablecoins amid regulatory developments like the U.S. Senate's GENIUS Act and increased scrutiny from the Bank for International Settlements .
- FIUSD will leverage technology from Circle and Paxos and will be integrated into Fiserv’s extensive network, which serves thousands of financial institutions and millions of merchants, facilitating widespread use and quick adoption.
- Takis Georgakopoulos, Fiserv’s COO, stated that FIUSD will enhance stablecoin payment capabilities and support clients in succeeding amid the changing landscape of financial services and payment systems.
- The launch could accelerate stablecoin integration into traditional finance, while the BIS warns stablecoins pose risks to monetary sovereignty and calls for rapid currency tokenisation.
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Total News Sources37
Leaning Left1Leaning Right1Center5Last UpdatedBias Distribution71% Center
Bias Distribution
- 71% of the sources are Center
71% Center
14%
C 71%
14%
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