Mastercard said it was expanding its relationship with Fiserv to promote the financial tech company's planned stablecoin, FIUSD.

Mastercard Inc. said it’s working to weave Fiserv Inc.’s FIUSD stablecoin into a range of its payment products. It’s another traditional financial firm jockeying for a seat at the table as cryptocurrencies become more mainstream.

Mastercard is bringing Fiserv’s brand-new stablecoin to its global payments network, as cryptocurrency adoption picks up steam across traditional finance. The companies said Tuesday they would issue stablecoin-linked cards for shared customers and enable merchants to settle with Mastercard using Fiserv’s new stablecoin FIUSD,