A day after Fiserv (FI) introduced it was planning to launch a brand new stablecoin referred to as FIUSD, one of many monetary know-how agency’s large prospects is leaping on board.

Mastercard (MA) on Tuesday mentioned it’s deepening its relationship with Fiserv so as “to integrate its new FIUSD token across a range of Mastercard products and services, expanding stablecoin adoption and utility for their shared customers around the world.”

It added that the 2 firms would work collectively to “explore key areas to solve for real-world challenges and opportunities for stablecoin adoption and utility.”

Chiro Aikat, co-president of the Americas for Mastercard, argued that the collaboration “is setting the stage for a new era, where stablecoins are as ubiquitous and trusted as fiat currencies, driving choice and innovation for all.”

Fiserv COO Takis Georgakopoulos defined that working with Mastercard will promote “greater reach and utility of stablecoins by helping our financial institutions and merchants enable greater payments choice to their customers.”

Fiserv plans to make FIUSD accessible by the tip of the 12 months. 

Shares of Fiserv superior 1.3% in latest buying and selling after gaining 4.4% yesterday. Mastercard shares had been about 2.5% greater.