Key facts
- FIS is helping financial institution customers to transact in USDC through a new partnership with Circle.
- FIS infrastructure solutions, including the FIS Money Movement Hub, will integrate with Circle’s stablecoin functionality.
- This partnership is part of FIS’ broader strategy to support clients on their digital asset and currency journey across the money lifecycle.
JACKSONVILLE, Fla.--(BUSINESS WIRE)--Global financial technology leader FIS® (NYSE: FIS) has announced a new partnership with a subsidiary of Circle Internet Group, Inc. (NYSE:CRCL) (“Circle”) to give financial institutions the ability to transact in USDC, the world’s largest regulated stablecoin. This partnership launches on the heels of new U.S. stablecoin legislation that paves the way for digital assets to become more integrated with traditional finance in the U.S. It is part of FIS’ broader strategy to support digital assets and currencies, exemplifying FIS’ strategic commitment to introduce innovative technology solutions to clients across the money lifecycle.
Working together through this novel partnership, FIS and Circle will enable U.S. financial institutions to offer their customers the option to make domestic and cross-border stablecoin payments in USDC. Issued through Circle’s regulated affiliates, USDC is a fully-reserved payment stablecoin that is redeemable 1:1 for US dollars.
FIS’ recently launched Money Movement Hub is the first FIS solution to integrate with Circle, making USDC payment functionality available to a wide range of institutions. The Money Movement Hub enables financial institutions to connect to multiple payment networks, encompassing a range of payment types, in one place. FIS will integrate its real-time payments and enhanced fraud detection solutions with Circle’s blockchain-native infrastructure, providing a scalable path for financial institution customers to adopt digital assets.
Jim Johnson, Co-President, Banking Solutions at FIS, commented, “This new partnership with Circle demonstrates FIS’ dedication to unlocking innovative financial technology that helps move money between the world’s banks, consumers and businesses. By providing our clients with direct access to USDC functionality within a regulated and compliant framework, they in turn will be able to offer their customers greater choice in payment methods than ever before. We are helping them to embrace the latest technology to reduce the complexity and costs associated with making payments, enabling funds to flow with greater speed, accuracy and security throughout the money lifecycle.”
Kash Razzaghi, Chief Business Officer at Circle, commented, “With the GENIUS Act now enacted as U.S. law, stablecoins are converging with mainstream finance and institutions are increasingly seeking faster, more transparent and economically efficient ways to move money. Payment stablecoins represent a significant opportunity for U.S. financial institutions to modernize and stay competitive. That’s why we’re partnering with FIS - by combining FIS’ ubiquitous banking and payments technology ecosystem with Circle’s blockchain-native infrastructure and USDC, we’re unlocking settlement at internet scale.”
FIS is a financial technology company providing solutions to financial institutions, businesses, and developers. We unlock financial technology to the world across the money lifecycle underpinning the world’s financial system. Our people are dedicated to advancing the way the world pays, banks and invests, by helping our clients to confidently run, grow, and protect their businesses. Our expertise comes from decades of experience helping financial institutions and businesses of all sizes adapt to meet the needs of their customers by harnessing where reliability meets innovation in financial technology. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500® and the Standard & Poor’s 500® Index. To learn more, visit FISglobal.com. Follow FIS on LinkedIn, Facebook and X.
Contacts
For More Information
Kim Snider, 904.438.6278
Senior Vice President
FIS Global Marketing and Communications
kim.snider@fisglobal.com