The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, and the debates leading up to the legislation becoming law last month, have placed stablecoin in the spotlight. Simply described as a type of cryptocurrency that maintains a stable value, unlike the volatile Bitcoin, stablecoin is yet another innovation in the financial services space that credit unions should consider as part of their strategy. But how?
Enter Cooper Thompson, Head of Product for Embedded Finance at the financial technology giant Fiserv. In this episode of Shared Accounts With CU Times, Thompson offers us a rundown on stablecoin, why it should matter to credit unions and potential use cases for the unique digital asset. He also discusses the strategy behind Fiserv’s very own, soon-to-launch stablecoin, FIUSD - which could be making its way into banks’ and credit unions’ mobile apps by next year - and shares his thoughts on the GENIUS Act and where digital asset regulation might be headed next.
We also get a glimpse into Thompson’s family life in his home town of McAllen, Texas (where he still resides today), where his passion for technology began and whether that passion is rubbing off onto his young kids. Pull up a chair, press play and get ready to nerd out with us!
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