Mastercard and Fiserv Team Up to Bring Stablecoins to 150M+ Merchants Globally

Mastercard and Fiserv Double Down on Stablecoins, Launch Global Push for FIUSD Utility

In a bold step toward mainstreaming stablecoin adoption, Mastercard and Fiserv are expanding their partnership to integrate FIUSD, Fiserv’s blockchain-based token, across Mastercard’s global payments network. The collaboration aims to unlock real-world use cases for stablecoins—bringing programmable digital currency to more than 150 million merchants worldwide.

This move positions FIUSD not just as a speculative asset or store of value, but as a core enabler of payments and settlement in day-to-day commerce.

Stablecoins, But Make It Mainstream

While stablecoins have mostly lingered at the fringes of finance—useful for trading, less so for paying—this initiative flips the narrative. Mastercard and Fiserv are working on several fronts to bring FIUSD into the payments fold:

• Seamless on/off-ramping: Consumers and businesses will be able to convert between fiat and FIUSD with minimal friction, smoothing out the typical blockchain learning curve.
• Merchant settlement in FIUSD: Mastercard will enable its global acquiring partners to support FIUSD as a settlement option, allowing merchants to receive funds in stablecoin regardless of the original payment method.
• Integration with Mastercard’s Multi-Token Network (MTN): Fiserv’s Digital Asset Platform, built on Finxact, will tap into MTN to offer banks prebuilt tools for programmable, on-chain financial products.
• Stablecoin-powered cards: The two companies will also collaborate on issuing stablecoin-linked cards, enabling FIUSD payments anywhere Mastercard is accepted. Users will have the flexibility to pay with debit, credit, or stablecoin balances via Mastercard’s One Credential system.

“This work with Fiserv is setting the stage for a new era, where stablecoins are as ubiquitous and trusted as fiat currencies,” said Chiro Aikat, Mastercard’s co-president for the Americas. He emphasized the need for a secure, seamless, and programmable transaction framework that connects traditional finance with the world of digital assets.

Why It Matters

For years, stablecoins like USDC and USDT have dominated crypto trading pairs, but their real-world utility has lagged behind. Mastercard and Fiserv’s bet on FIUSD represents a strategic effort to shift stablecoins from speculation to utility.

The appeal? Faster settlements, lower costs, and programmable capabilities that legacy systems simply can’t match. For merchants, this could mean leaner operations. For banks, it’s an opportunity to innovate without a full-stack rebuild.

“Stablecoins have largely been a store of value. Our work with Mastercard is promoting greater reach and utility,” said Takis Georgakopoulos, Fiserv COO. He underscored that this move enables financial institutions and merchants to offer more choice in how customers move money.

A Big Signal for Banks and Blockchain

Mastercard’s move further blurs the line between Web2 finance and Web3 innovation. Its Multi-Token Network (MTN)—essentially a blockchain-based rails system—has been quietly gaining traction as the company’s backbone for digital asset interoperability.

Pairing this with Fiserv’s Digital Asset Platform creates a modular infrastructure where banks can plug in and build. Whether it’s programmable payments, tokenized assets, or smart contracts, this is the scaffolding for financial services 2.0.

And while other stablecoin efforts (hello, PayPal USD) have yet to gain meaningful traction, Mastercard and Fiserv are differentiating themselves by focusing on use cases, not hype.

The Road Ahead

Stablecoins still face regulatory headwinds—particularly in the U.S.—but this partnership is a bet that regulation will catch up to innovation. By prioritizing compliance, security, and utility, Mastercard and Fiserv are aiming to de-risk stablecoin adoption for mainstream institutions.

For now, FIUSD’s reach may be limited to Fiserv and Mastercard customers, but the infrastructure being laid here has broader implications for global payments, cross-border commerce, and financial inclusion.

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