Crypto Custody Heavyweight Fireblocks has announced its own payment network to allow participants to move through Stablecoins.
Fireblocks Network for Payments is designed to combine on-ramp and off-ramp, liquidity providers, banks, and stupid issuers with higher efficiency and lower risk than is present than providers are using more fragmented and distributed systems.
The network has already exceeded 40 participants, including USDC developers Circle (CRCL) and Stablecoin Platform Bridge.
Fireblocks described the new network as Stablecoin, the equivalent of Swift. This made it easier for banks around the world to send across borders in an announcement Thursday.
The network combines Stablecoin payments of more than $200 billion each month, Fireblocks said. According to a survey cited by Grayscale, the monthly total of all Stablecoin payments reached $800 billion in June.
Stablecoins and Crypto Tokens are fixed at the value of traditional financial assets such as Fiat Currency, and in August rose to a market capitalization of more than $280 billion at the start of the year following the boom in 2025.
With this sector's surge, the biggest players are developing their own payment platforms to further compensate for this growth. Stripe last year made Bridge act as a Stablecoin platform, and in April Circle announced its own payments network.
Both companies develop their own blockchains of stable and tokenized assets.
