The companies aim to help US banks offer their customers the option to make domestic and cross-border payments using USDC, a cryptocurrency intended to track the value of a dollar one-for-one that’s backed by short-term US Treasuries and cash. FIS is integrating the token into its money movement hub, a service designed to help financial institutions connect with multiple payment networks. The service is expected to go live before the end of the year.
“A lot of these companies view FIS as a strategic partner helping them navigate this new world of digital payments and stablecoin. That’s another added benefit is that FIS has a lot of credibility when it comes to their customers and what they recommend.”
