Bank technology provider Fidelity National Information Services Inc. is partnering with Circle Internet Group Inc. to offer financial institutions the ability to conduct transactions using Circle's stablecoin.
The companies aim to help US banks offer their customers the option to make domestic and cross-border payments using
"This time its no longer a fringe thing, it's becoming foundational to all parts of financial services," Himal Makwana, global head of corporate strategy at Jacksonville, Florida-based FIS, said in an interview. Stablecoins are "much more mature and grounded in actually solving client-end problems."
The partnership provides Circle with a potential distribution channel of thousands of financial institutions that leveraging the company's technology. FIS processes more than
"This is one example of a partnership we have in place that can enable us to drive growth and distribution of USDC," Kash Razzaghi, chief business officer at New York-based Circle, said in an interview. "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."
The integration
