Fireblocks has announced the launch of the Fireblocks Network for Payments, aimed at supporting stablecoin transactions in more than 100 countries, including Singapore and Hong Kong.
The new network extends Fireblocks’ infrastructure to stablecoin payments, providing institutions such as fintech firms and payment service providers with the ability to manage payouts, remittances, merchant settlements, cross-border treasury, and global payment flows.
It links local payment rails, blockchains, and stablecoin systems with on/off-ramps, issuers, liquidity providers, on-chain foreign exchange, and remittance services covering over 60 currencies.
“Fireblocks is the backbone of stablecoin payments,”
said Michael Shaulov, Chief Executive and Co-founder of Fireblocks.
“By introducing unified APIs and workflows, and APIs purpose-built for stablecoin use cases, the Fireblocks Network for Payments gives institutions the ability to move value securely across every provider, blockchain, or fiat rail.”
Many financial institutions encounter difficulties when setting up stablecoin payments due to the fragmented landscape, with multiple providers across jurisdictions requiring separate integrations, compliance checks, and operational frameworks.
Fireblocks said its network addresses these challenges by consolidating participants within a single interoperable system.
More than 40 providers are already available on the Fireblocks Network, including Alfred, Banxa, Bridge, Braza Bank, B2C2, Circle, Conduit, dLocal, GSR, NexChange, Nonco, OpenPayd, Pave Bank, QCP, Reap, SCRYPT Digital, Singapore Gulf Bank, Sygnum, Transak, Transfero, Velocity, Yellow Card, Zerocap, Zerohash, and Zodia Markets.
Future integrations with the Circle Payments Network and WalletConnect are expected to give institutions access to over 2,400 participants globally, including banks, issuers, exchanges, and wallets.
According to Fireblocks, stablecoins now process more annual volume than Visa and Mastercard combined, though institutions continue to rely on multiple providers and settlement systems.
The Fireblocks Network consolidates these functions, with built-in tools for sanctions screening, wallet verification, and compliance with the Travel Rule.
The network has already been used to settle more than US$10 trillion in digital asset transfers.
Fireblocks stated that as stablecoin use cases expand, the network will continue to evolve to meet the requirements of global finance.
A webinar on September 18 will further explore the rise of stablecoins, their adoption, and their role in payments.
Featured image credit: Edited by Fintech News Singapore, based on image by ksandrphoto via Freepik
