FIS, Circle Partner to Offer Stablecoin Transactions to Financial Institutions

By Natalie Weger

Fidelity National Information Services is partnering with Circle Internet Group to let financial institutions transact in the USDC stablecoin.

The partnership launched after the Senate passed the Genius Act in June, which seeks to regulate the stablecoin industry. The new partnership is part of FIS' strategy to support digital assets and currencies.

Through this partnership, FIS and Circle will let U.S. financial institutions offer their customers the option to make domestic and cross-border stablecoin payments in USDC, a fully-reserved payment stablecoin that is redeemable 1:1 in U.S. dollars.

FIS recently launched the Money Movement Hub to integrate with Circle, which will make USDC payment functionally available to a range of institutions. The hub lets financial institutions connect to multiple payment networks in one place, the company said.

Write to Natalie Weger at natalie.weger@wsj.com