Fiserv (NYSE:FI) and PayPal (NASDAQ:PYPL) on Monday said that they are partnering to build future interoperability between FIUSD and PayPal USD (PYUSD), to allow consumers and businesses to move funds domestically and internationally.

Fiserv on Monday unveiled plans to launch a stablecoin, joining a growing number of U.S. companies exploring the technology as the crypto asset moves into the mainstream. The announcement comes after the U.

The Fortune 500 fintech provider plans to roll out its digital asset platform with a U.S. dollar stablecoin FIUSD to 10,000 institutions and 6 million merchants.