Fiserv, a major payment processor, is set to launch a stablecoin named FIUSD, designed to facilitate instant bank and merchant transfers. This dollar-backed stablecoin will be built on the Solana blockchain and aims to provide compliance and scalability for financial transactions. With the infrastructure already processing $90 billion in transactions annually through tools like Clover POS, FIUSD seeks to modernize the often slow systems used in global commerce, which currently involve lengthy fund clearance times and high cross-border transfer fees. Fiserv's initiative follows the U.S. Senate's passage of the GENIUS Act, which establishes a regulatory framework for stablecoins, facilitating their integration into existing financial infrastructures. FIUSD will be interoperable with PayPal's PYUSD to enhance cross-border payment efficiency. This substantial regulatory clarity could significantly accelerate the adoption of stablecoins in the enterprise sector, potentially enabling quicker transaction settlements for users and businesses across the globe.

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