Fiserv has announced its plans to acquire StoneCastle Cash Management, expected to finalise in 2026.
The company has revealed that will be acquiring StoneCastle.
With a current $22B in managed client deposits across 1,000 banks, their platform provides funding to a variety of key stakeholders, such as credit unions and community banks, across the U.S and supports them with financial enterprise solutions.
On this announcement, Head of Financial Solutions at Fiserv Andrew Gelb expressed:
Acquiring StoneCastle is an important step forward in our strategy to help financial institutions optimize their balance sheets, which will enable them to do more in the communities they serve.
StoneCastle currently provides secure deposit insurance up to $100M in account balances and easy liquidity rails. Another strategic benefit of the planned acquisition is the natural opportunity to scale Fiserv’s own stablecoin to the wave of incoming institutional clients.
Speaking to this, COO at Fiserv Takis Georgakopoulos explained:
We believe this further sets Fiserv apart in core banking by enabling institutions to custody cash supporting FIUSD stablecoins, while unlocking new value and accelerating innovation across the financial ecosystem.
Earlier in the summer, the large fintech infrastructure provider revealed that it is intending to launch a native stablecoin called FIUSD, having partnered with stablecoin issuer Paxos to handle the issuance management.
