Crypto custody heavyweight fireblocks have opened its own payment network to help participants move stablecoins around.
The fireblocks network for payments is designed to combine on- and off-ramps, liquidity providers, banks and stablecoin providers with higher efficiency and lower risk than currently exists when providers use more fragments and spreading systems.
Network participants numbered more than 40 and included circle (CRCL)USDC developer, and Stablecoin platform bridge.
Fireblocks described the new network as an equivalent of stablecoin in Swift, which enables banks around the world to make it easier to send money to boundaries, In an announcement on Thursday.
The network combines more than $ 200 billion with Stablecoin payments per month, the fireblocks said. The monthly sum for all Stablecoin payments reached $ 800 billion in June, According to the research mentioned by Grayscale.
Stablecoins, crypto tokens that have reached the value of a traditional financial possession such as a fiat currency, have undergone a boom in 2025, Climbing a market cap of more than $ 280 billion in August from around $ 200 billion at the start of the year.
The proliferation of the sector has seen the largest players having their own payment platforms to increase this growth. Stripe Retrieved bridge last year To serve as its stablecoin platform, while circle Released its own payment network In April.
Same companies too Building their own demonstration of blockchains for stablecoins and tokenized assets.
