US Edition
Stablecoins ‘Perform Poorly’ as Money, Central Banks Warn
- On June 23, Fiserv Inc. announced plans to launch FIUSD, a USD-pegged stablecoin on the Solana blockchain integrated into its global payments network.
- This launch follows growing institutional interest in stablecoins amid the U.S. Senate passing the GENIUS Act and global regulators warning of stablecoin risks.
- Fiserv plans to utilize the infrastructure provided by Circle and Paxos to roll out FIUSD across its extensive network of financial institutions and merchant locations, enabling rapid growth and quick user adoption.
- Takis Georgakopoulos stated FIUSD will provide clients efficiency and optionality to thrive in evolving payment ecosystems, while BIS economic adviser Hyun Song Shin warned stablecoins lack central bank settlement functions.
- The launch could expand blockchain finance access but also highlights central bank calls for tokenized national currencies to address stablecoins' financial stability and sovereignty risks.
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Coverage Details
Total News Sources39
Leaning Left1Leaning Right1Center5Last UpdatedBias Distribution71% Center
Bias Distribution
- 71% of the sources are Center
71% Center
14%
C 71%
14%
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