Fireblocks is launching an enterprise-grade stablecoin network designed to help crypto and financial firms move the USD-pegged tokens and build products, according to a post to X on Thursday.
Fireblock’s stablecoin network is already servicing more than 40 participants, including Circle, Bridge, Zerohas,h and Yellow Card, the company said. Circle issues the second-largest stablecoin by circulation, USDC. Fortune first reported the news.
“Fireblocks is the backbone of stablecoin payments. 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,” Fireblocks co-founder and CEO Michael Shaulov said.
With the stablecoin market expected to grow into the trillions of dollars, the amount of revenue to be earned from providing the behind-the-scenes infrastructure could prove to be significant, as traditional financial institutions like the Bank of America eye creating their own USD-pegged tokens.
“With Fireblocks, we’ve transformed a process that used to be slow and manual into a fast, secure, and compliant engine for growth,” Yellow Card co-founder and CEO Chris Maurice said. “It’s the core infrastructure that allows us to confidently scale our payout services for customers across 20+ African countries and in the emerging markets.”
In 2022, Fireblocks raised $550 million, valuing the company at $8 billion. Investors in the company include Sequoia Capital, Coatue, Ribbit, Bank of New York Mellon, Paradigm, and SCB10x.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
