Fiserv is launching a bank-friendly stablecoin with Circle
Fintech stock Fiserv Inc (NYSE:FI) was last seen up 3.6% at $169.14, after news that the company is launching its own bank-friendly stablecoin with Circle (CRCL) on the Solana blockchain. The firm also announced a separate stablecoin partnership with PayPal (PYPL).
Fiserv stock jumped above resistance at the $170 level at the open, which has kept a firm lid on gains since mid-May, but found pressure at the 40-day moving average. Since the start of the year, FI is down 18.9%, though it's still holding on to a 11.3% year-over-year lead.
Options bulls are chiming in on the reports. So far, Fiserv stock has seen 9,676 calls exchanged -- 8 times the volume typically seen at this point -- in comparison to just 498 puts. The July 190 call is the most popular, with new positions being bought to open there.
The equity has yet to see any bull notes today, but the majority of brokerages already lean optimistic. Of the 38 analysts in coverage, only five carry a "hold" or worse rating, while the consensus price target sits at $221.42 is a 32.6% premium to current levels.