Fidelity National Information Services Inc. (NYSE:FIS) has teamed up with Circle Internet Group Inc. (NYSE:CRCL) to facilitate the use of stablecoins by financial institutions.
What Happened: The partnership between FIS and Circle will allow U.S. financial institutions to conduct transactions using the USDC stablecoin. This initiative follows the approval of the GENIUS Act by the Senate, which aims to regulate the stablecoin industry, reported The Wall Street Journal on Monday.
The collaboration is part of FIS’s broader strategy to support digital assets and currencies. Through this partnership, FIS and Circle will enable U.S. financial institutions to offer their clients the option to make domestic and cross-border stablecoin payments in USDC, a fully-reserved payment stablecoin that is redeemable 1:1 in U.S. dollars.
FIS earlier introduced …