When was FIS coin issued? Learn about the origin of FIS coin in one article

FIS Coin, conceived to address inefficiencies in payment systems, emerged as a blockchain-based solution launched through an ICO in 2019 and has since grown its global footprint.

Oct 02, 2024 at 11:42 am

Understanding the Origins of FIS Coin

1. Conception and Development

FIS coin, also known as FIS Worldpay, emerged as a blockchain-based global payments solution. The idea behind FIS coin was to streamline international payments, reduce transaction costs, and accelerate settlement times.

2. Initial Coin Offering (ICO)

In March 2019, FIS announced plans to launch FIS coin through an ICO. The ICO aimed to raise funds for the development and implementation of the FIS Worldpay platform.

3. ICO Launch

The FIS coin ICO commenced on May 14, 2019, and concluded on June 12, 2019. A total of 524,854,000 FIS coins were offered for sale, and the ICO raised approximately $63 million.

4. Platform Deployment

Following the ICO, FIS Worldpay continued to develop its blockchain platform. The platform was designed to facilitate real-time cross-border payments, leveraging blockchain technology for secure and transparent transactions.

5. Commercial Availability

FIS Worldpay officially launched in August 2020. Businesses and financial institutions could integrate the platform to accept and process payments in multiple currencies, with reduced costs and accelerated settlement speeds.

6. Ongoing Expansion

FIS Worldpay continues to expand its reach and capabilities. The platform has partnered with several payment processors and banks worldwide to increase its global footprint and provide seamless payment solutions for businesses.

Conclusion

FIS coin was conceived as a solution to the inefficiencies of traditional payment systems. Through the ICO and the development of the FIS Worldpay platform, FIS has introduced a blockchain-based solution that aims to make international payments faster, more affordable, and more secure. The ongoing expansion of FIS Worldpay demonstrates the growing adoption of blockchain technology in the global payments landscape.