Working together through this partnership, FIS and Circle will enable U.S. financial institutions to offer their customers the option to make domestic and cross-border stablecoin payments using USDC. Issued through Circle’s regulated affiliates, USDC is a fully-reserved payment stablecoin that’s redeemable 1:1 for US dollars.
Global financial technology leader FIS® has announced a new partnership with a subsidiary of Circle Internet Group, Inc. to give financial institutions the ability to transact in USDC, the world’s largest regulated stablecoin1 .
„This partnership launches on the heels of new U.S. stablecoin legislation that paves the way for payment stablecoins to become more integrated with traditional finance in the US. It is part of FIS’ broader strategy to support digital assets and currencies, exemplifying FIS’ strategic commitment to introduce innovative technology solutions to clients across the money lifecycle.” – according to the press release.
FIS’ recently launched Money Movement Hub is the first FIS solution to integrate with Circle, making USDC payment functionality available to a wide range of institutions. The Money Movement Hub enables financial institutions to connect to multiple payment networks, encompassing all payment types, in one place.
„FIS will integrate its real-time payments and enhanced fraud detection solutions with Circle’s blockchain-native infrastructure, providing a scalable path for financial institution customers to adopt digital assets.” – the company said.
Jim Johnson, co-president, Banking Solutions at FIS, commented, “This new partnership with Circle demonstrates FIS’ dedication to unlocking innovative financial technology that helps move money between the world’s banks, consumers and businesses. By providing our clients with direct access to USDC functionality within a regulated, and compliant framework, they in turn will be able to offer their customers greater choice in payment methods than ever before. We are helping them to embrace the latest technology to reduce the complexity and costs associated with making payments, enabling funds to flow with speed, accuracy and security throughout the money lifecycle.”
Kash Razzaghi, Chief Business Officer at Circle commented, “With the GENIUS Act now enacted as U.S. law, stablecoins are converging with mainstream finance and institutions are increasingly seeking faster, more transparent and economically efficient ways to move money. Payment stablecoins represent a significant opportunity for U.S. banks to modernize and stay competitive. That’s why we’re partnering with FIS – by combining FIS’ ubiquitous banking and payments technology ecosystem with Circle’s blockchain-native infrastructure and USDC, we’re unlocking settlement at internet scale.”
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1 USDC is issued by regulated affiliates of Circle. A list of Circle’s regulatory authorizations can be found at https://www.circle.com/en/legal/licenses.
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