Circle Internet Group (NYSE:CRCL) shares surged more than 21% after it announced a strategic collaboration with Fiserv Inc (NYSE:FI) aimed at integrating stablecoin technology into mainstream financial services.
The partnership brings together Circle’s regulated USDC infrastructure and payments network with Fiserv’s extensive digital banking and payments capabilities, creating a powerful new channel for real-time, low-cost, and borderless stablecoin payments.
The companies said the collaboration will enable thousands of financial institutions and millions of merchant locations within the Fiserv ecosystem to access stablecoin-based solutions. These services will leverage interoperable, regulated digital dollars to enhance both domestic and cross-border payments.
"As demand for real-time, borderless financial experiences accelerates, this collaboration reflects our commitment to supporting forward-thinking financial institutions,” Circle CEO Jeremy Allaire said in a statement.
“Fiserv is a trusted leader in enabling money movement across the financial ecosystem. By integrating with Circle’s infrastructure, Fiserv is positioned to extend the benefits of stablecoin-based payments and open internet finance to thousands of financial institutions.”
Separately, Fiserv announced it will be launching its own stablecoin, FIUSD, slated for release by the end of 2025.
Designed to be bank-friendly and interoperable, FIUSD will be integrated directly into Fiserv’s banking and payments platforms and available on the Solana blockchain.
The coin will be supported by technology from both Circle and Paxos, offering Fiserv’s roughly 10,000 financial institution clients and six million merchant locations scalable access to digital asset tools and programmable payments.
Shares of Circle traded up 21.3% at $292 on Monday, having gained more than 170% since its initial public offering earlier this month. Fiserv shares added 2.8% at about $168.