Fireblocks Unveils Stablecoin Network to Power Global Payments

Fireblocks, a well-known crypto custody provider, has introduced a new stablecoin network for institutional businesses. This new system is poised to make it easier for crypto companies and banks to move USD-pegged tokens and create new payment products. The launch highlights how quickly the stablecoin market is growing, with key players building the tools needed to support the rising demand. Simplifying Stablecoin Payments Michael Shaulov, Fireblocks’ co-founder and CEO, described the network as the backbone of stablecoin payments. According to him, the system introduces unified APIs and workflows specifically designed for stablecoin transactions. This allows institutions to securely move value across different providers, blockchains, and even fiat payment rails. The goal is to make the process faster and easier, instead of slow and inefficient. By offering a secure and compliant framework, Fireblocks enables firms to build payment solutions that can scale globally. In a recent X post, Fireblocks shared that over 40 groups are already using its stablecoin network. These include well-known firms such as Bridge, Zerohash, and Yellow Card. Also, NYSE-listed firm Circle , an issuer of the leading digital dollar USDC, has adopted Fireblock’s new stablecoin network. Fireblocks Builds Global Rails for the Trillion-Dollar Stablecoin Market The stablecoin market is projected to grow into the trillions of dollars in the coming years. This means companies that create the technology for stablecoin payments could make big profits. Even large banks, like Bank of America, are exploring their own USD-pegged tokens. In Africa, Fireblocks is already helping companies like Yellow Card expand. Its network supports payout services in more than 20 countries. By replacing slow manual work with faster, safer, and rule-compliant systems, Fireblocks is boosting growth in areas that need better financial solutions most. Fireblocks Expands in Digital Assets with Strong Support from Investors Fireblocks has been growing its product offerings in the digital asset industry. In 2022, it raised $550 million, reaching a value of $8 billion. Big investors like Sequoia Capital, Coatue, Ribbit, Bank of New York Mellon, Paradigm, and SCB10x supported the company. This strong backing from institutional investors shows strong confidence in the firm’ vision and its role in shaping the future of digital payments. Beyond stablecoins, Fireblocks is also building its position as a key Ethereum infrastructure provider through new blockchain partnerships. In April, Fireblocks partnered with Calastone, a global funds network . Together, they are building a tool that will let asset managers tokenize any fund on Calastone’s platform. The post Fireblocks Unveils Stablecoin Network to Power Global Payments appeared first on TheCoinrise.com .