Cryptocurrency custody company Fireblocks has launched a new stablecoin-based global payments network. Fireblocks announced the official launch of "Fireblocks Network for Payments" on the 3rd (local time) in a Fortune report.
This network is designed to enable cryptocurrency and financial companies to send and settle stablecoins more quickly and efficiently. It minimizes the speed and cost issues inherent in existing blockchain transfer processes, making it ideal for large-scale commercial transactions and inter-institutional transactions.
Currently, over 40 global institutions are participating in the network. Notably, Bridge, acquired by global online payment company Stripe, and Circle, the issuer of the leading stablecoin, USDC, have joined, drawing attention. With numerous cryptocurrency and fintech companies joining the network, there's growing confidence that it will become a de facto stablecoin payment infrastructure.
This move demonstrates Fireblocks' commitment to moving beyond a simple digital asset custody service to becoming an international payment hub using stablecoins. With stablecoin usage expanding in the global payments market, attention is focused on whether Fireblocks' new payment network will become a key catalyst for accelerating institutional adoption.
