Partners with bank to process crypto transactions (Courtesy of the Jacksonville Business Journal) —
Providence-based Citizens Financial Group Inc. on Monday announced an expanded partnership with fintech firm FIS’s Worldpay to process card-to-crypto transactions for digital asset companies in the U.S., including crypto exchanges, wallets and brokers.
The agreement allows customers of crypto companies — who are Worldpay clients — to use their Visa or Mastercard credit and debit cards to purchase digital assets.
Worldpay serves seven of the top 10 cryptocurrency exchanges, several of which operate in the U.S., Citizens (NYSE: CFG) said in a release.
“This initiative demonstrates Citizens’ innovative approach and commitment to serving our clients’ needs,” Michael Cummins, Citizens’ head of Treasury Solutions, said in a prepared statement.
Citizens has $188.4 billion in assets.
FIS (NYSE: FIS), based in Jacksonville, Florida, is short for Fidelity National Information Services. It acquired Worldpay Inc. in a $43 billion deal that was completed in mid-2019. Worldpay is a payment processing company that spun out of Cincinnati, Ohio-based Fifth Third Bancorp.
Photo courtesy of FIS