Crypto Comaryweatweatweight Fireblocks has revealed its own payment network to help participants move stablecoins around.
Fireblocks Network for payments is designed to combine on- and off-ramps, liquidity providers, banks and stableco-issuers with higher efficiency and lower risk than currently exists when providers use more fragmented and spread systems.
The network’s participants already number more than 40 and include circle (CRCL)Developer of USDC and Stablecoin Platform Bridge.
Fireblocks described the new network as a stableecoin equivalent to Swift, which allowed banks around the world to send money across borders in a message on Thursday.
The network is combined for over $ 200 billion in stablecoin payments each month, Fireblocks said. The monthly total for all stablecoin payments reached $ 800 billion in June, according to research cited by Grayscale.
Stableecoins, Krypto -Tokens, associated with the value of a traditional financial asset, such as a Fiat currency, has undergone a boom in 2025 climbing a market capital of over $ 280 billion in August from around $ 200 billion at the beginning of the year.
The proliferation of the sector has seen its biggest players develop their own payment platforms to further supplement this growth. Stripe acquired Bridge last year to serve as his stableecoin platform, while Circle revealed his own payment network in April.
Both companies also develop their own proprietary blockchains for stablecoins and tokenized assets.
