TL;DR
- Fireblocks launched a stablecoin payments network that enables secure transfers of dollar-pegged tokens across blockchains and providers.
- The infrastructure provides unified APIs and workflows tailored for stablecoins, ensuring speed, security, and regulatory compliance.
- More than 20 African countries and other emerging markets rely on the company’s infrastructure.
Fireblocks announced the launch of a stablecoin payments network designed for crypto and financial firms.
The system aims to facilitate the movement of dollar-pegged tokens and provide tools for building products on this technological foundation. The network already includes over 40 active entities, including Circle, Bridge, Zerohash, and Yellow Card. Circle issues USDC, the second-largest stablecoin by market capitalization.
Speed, Security, and Compliance
Fireblocks’ network offers unified APIs and workflows designed for specific stablecoin use cases, allowing institutions to transfer value safely across different providers, blockchains, and fiat rails. According to Michael Shaulov, co-founder and CEO, this infrastructure serves as the core that supports stablecoin payments, delivering speed, security, and regulatory compliance.
The stablecoin market is projected to reach trillions of dollars, representing a potentially highly profitable business for those providing the underlying infrastructure. Traditional banks, including Bank of America, are exploring the issuance of their own dollar-pegged tokens, which could increase demand for secure and efficient transfer systems.
Fireblocks Transforms Financial Transactions
Yellow Card highlighted that implementing Fireblocks turned a previously slow, manual process into a fast and reliable payment engine. The company uses this infrastructure to expand its payment services across more than 20 African countries and other emerging markets, ensuring security and regulatory compliance.
In 2022, Fireblocks raised $550 million, valuing the company at $8 billion. Investors include Sequoia Capital, Coatue, Ribbit, Bank of New York Mellon, Paradigm, and SCB10x. The company focuses on solutions that streamline stablecoin transfers and support the development of digital financial products, ensuring compatibility with multiple blockchains and traditional payment systems.
The launch of this network will play a key role in driving the stablecoin market. Institutions are seeking platforms that provide security, speed, and regulatory compliance. Fireblocks aims to establish itself as a reliable technological backbone for digital value transfers, enabling both crypto and financial firms to operate efficiently in an increasingly complex and demanding environment
