Fireblocks has launched a new in-house payments network aimed at moving stablecoins more efficiently between banks, issuers, liquidity providers and exchanges. The Fireblocks Network for Payments combines custody rails, on- and off-ramps and market-makers into a single infrastructure layer.
More than 40 firms have already joined the network, including Circle — creator of USDC — and stablecoin platform Bridge. Fireblocks described the system as a stablecoin equivalent to SWIFT, saying it reduces the friction of using fragmented plumbing across different providers.
Fireblocks says the participating members account for over $200 billion in stablecoin payments each month. For context, research cited by Grayscale put total monthly stablecoin payments at about $800 billion in June. The sector’s market cap grew past $280 billion in August from roughly $200 billion at the start of 2025.
The announcement follows a wave of platform-level moves: Stripe acquired Bridge last year and Circle launched its own payments network earlier in 2025. Both Circle and Stripe are also building proprietary blockchains for stablecoins and tokenized assets, signaling competition over which rails will power tokenized payments.
Why this matters: a consolidated network can lower settlement times, cut operational costs and reduce counterparty risk for institutional users. That makes stablecoins more attractive for corporate treasury use cases and cross-border remittances.
Risks remain. Regulatory uncertainty, issuer credit and liquidity risk, and the potential for concentration among a few big providers could limit adoption. Interoperability between networks and compliance requirements will be key hurdles as this market matures.
Source: Coindesk. Read the original coverage for full details.