Group 1 - Fiserv is acquiring StoneCastle Cash Management to enhance its FIUSD stablecoin and strengthen banks' balance sheets [9] - The acquisition will allow Fiserv to become a technology-enabled source of billions of dollars in institutional deposits [9] - StoneCastle's platform will help financial institutions retain funds associated with FIUSD issuance [9] Group 2 - StoneCastle's deposit platform optimizes deposits for over 1,000 community banks and credit unions, providing stable and cost-efficient funding [3] - The integration of insured deposit products with core account processing and digital banking capabilities will strengthen financial institutions' balance sheets [4] - Fiserv's COO highlighted the potential for innovation and value creation in the financial ecosystem through the custody of cash supporting FIUSD stablecoins [5] Group 3 - Fiserv plans to issue its stablecoin by the end of the year, leveraging its network of 10,000 financial institutions and 90 billion annual transactions [6][7] - StoneCastle, founded in 2009, has an existing relationship with over 300 Fiserv core banks [8]
Fiserv buys cash manager to boost stablecoin