Fireblocks Launches Payments Network for Efficient Stablecoin Transfers
Fireblocks has launched a payments network aimed at streamlining stablecoin transactions. Key points include:
- The Fireblocks Network for Payments integrates on- and off-ramps, liquidity providers, banks, and stablecoin issuers.
- Over 40 participants are involved, including Circle, the developer of USDC, and stablecoin platform Bridge.
- The network is positioned as a stablecoin equivalent to SWIFT, facilitating cross-border money transfers.
- It handles over $200 billion in stablecoin payments monthly, contributing to a total of $800 billion across all stablecoin payments as of June.
- The stablecoin market cap rose from $200 billion at the beginning of 2025 to over $280 billion in August.
- Competitors like Stripe and Circle are also developing their own payments platforms and proprietary blockchains for stablecoins.