Fiserv, a Fortune 500 company whose shares are traded on the New York Stock Exchange, announced plans to launch the FIUSD stablecoin on the Solana network.

According to the firm's statement, the dollar-pegged asset will utilize technology from Paxos and Circle, the issuer of USDC. Fiserv plans to integrate FIUSD into the company's existing banking and payment system.

With our scale, reach, and technological leadership, Fiserv has unique opportunities to develop stablecoin-based payments and promote the democratization of access to blockchain-based financial services.

We believe that together with our other cloud banking and trading platforms, FIUSD will provide our clients with the efficiency and flexibility necessary to succeed in the evolving ecosystem of banking and payments," said Fiserv's Chief Operating Officer, Takis Georgakopoulos.