Fireblocks launches payments network for stablecoins

The crypto infrastructure firm expands into payments with a stablecoin network connecting fintechs, banks, and issuers

by Blockworks /
article-image

Fireblocks CEO and co-founder Michael Shaulov | Permissionless I by Blockworks

share

Fireblocks, the $8 billion crypto infrastructure firm, has launched a new payments network designed for stablecoins.

Announced on Thursday, the Fireblocks Network for Payments brings together more than 40 participants, including Circle, stablecoin startup Bridge — recently acquired by Stripe — along with firms such as Zerohash and Yellow Card.

The initiative aims to reduce engineering costs and operational risks for companies building stablecoin products or transferring digital dollars across borders, according to CEO Michael Shaulov.

In July 2025, Fireblocks processed a record $212 billion in stablecoin volume, underscoring its role in the asset class. The firm already provides custody and transfer services for banks, including BNY Mellon and fintechs like Revolut, but its existing infrastructure was built around crypto trading rather than streamlined stablecoin payments.

Shaulov said the new network expands on models like the Circle Payments Network, but supports multiple stablecoins rather than only Circle’s USDC. The launch comes amid rising institutional interest: a Fireblocks report back in May found 90% of firms are already using or exploring stablecoin payment programs, with cross-border settlement cited as the top driver.

Blockworks Research data highlights the scale of stablecoin flows Fireblocks is targeting. On Ethereum, where $164 billion in stablecoins circulate, daily transfer volumes regularly exceed $60 billion. USDC alone accounts for nearly $47 billion in supply, while USDT still dominates at over $81 billion.

Solana stablecoin supply and transfers | Source: Blockworks Research

Meanwhile, Solana has emerged as a high-throughput stablecoin rail, processing around $11 billion in daily transfers across tokens like USDC, USDT and PYUSD.

The network handles roughly 3 billion monthly transactions (excluding validator votes), far outpacing Ethereum in raw activity. Stablecoin volume spikes have helped to drive Solana DEX trading to nearly $300 billion in monthly spot volume, cementing its role as a low-cost complement to Ethereum’s liquidity-heavy ecosystem.

This is a developing story.


This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template.png

Research

Institutional staking providers specialize in offering secure, compliant, and scalable solutions for organizations, asset managers, and individuals who wish to stake large volumes of digital assets. Staking-as-a-Service Providers (SaaSPs) act as intermediaries, running blockchain nodes and managing the technical complexities of staking on behalf of clients, often providing custody, reporting, and yield optimization features across a broad range of assets and networks.

article-image

Share indexes every transaction across Solana, Base and Ethereum

article-image

The plan is to scale PayPal USD with Spark’s liquidity framework, building sustainable stablecoin markets

by Blockworks /
article-image

The company introduced a dollar-backed stablecoin to power instant payments and microtransactions for AI-driven web platforms

by Blockworks /
article-image

The plan is to make GameShift the “consumer portal” that bridges non-crypto gamers into Web3

article-image

Google backs $1.4B of obligations and takes 5.4% stake as Cipher expands AI data center footprint

by Blockworks /
article-image

Nine banks plan MiCA-regulated token to challenge dollar dominance and strengthen Europe’s payments autonomy

by Blockworks /