Crypto Custo Workweight Fireblocks has unveiled its own payment network to help participants move stablecoins.
The Fireblocks network for payments is designed to combine ramps on and straps, liquidity suppliers, banks and stable transmitters with higher efficiency and lower risk than that which currently exists when providers use more fragmented and dispersed systems.
Network participants already have more than 40 and include the circle (CRCL)USDC developer, and Stablecoin platform bridge.
Fireblocks described the new network as a stablecoin equivalent to Swift, which allowed banks around the world to more easily send money across borders, in an ad Thursday.
The network combines more than $ 200 billion in Stablecoin payments each month, said Fireblocks. The monthly total for all stablecoin payments reached $ 800 billion in June, according to research cited by Grayscale.
Stablecoins, cryptographic tokens that are set at the value of a traditional financial asset such as a fiduciary currency, underwent a boom in 2025, climbing a market capitalization of more than $ 280 billion in August, from around $ 200 billion at the start of the year.
The proliferation of the sector has seen its greatest players develop their own payment platforms to complete this growth more. Stripe acquired a bridge last year to serve as a Stablecoin platform, while Circle unveiled its own payment network in April.
The two companies also develop their own owner blockchains for stabbed and token workers.
