The Fireblocks Network For Payments, announced Thursday (Sept. 4), is available in more than 100 countries and designed to help institutions like FinTechs and payment services providers build products on Fireblocks’ infrastructure for things like payouts, remittance, merchant settlement and cross-border treasury.
“Fireblocks is the backbone of stablecoin payments,” Michael Shaulov, the company’s CEO and co-founder said in a Thursday news release. “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.”
The release argued that financial institutions that want to activate and scale stablecoin payments face major roadblocks, such as “costly provider discovery” across regions due to a fragmented landscape, and a lack of standardized data, leading to regulatory risk.
“By collaborating with the entire stablecoin ecosystem, Fireblocks brings together a neutral, powerful network,” the company added. “Financial institutions no longer have to choose between speed, compliance, and control when building stablecoin payment products.”
Fireblocks said more than 40 providers are available on its network, with more expected to be added. The company says it is also planning integrations with the Circle Payments Network (CPN) and WalletConnect.
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PYMNTS spoke last year with Ran Goldi, senior vice president, payments and network at Fireblocks, about the benefits and myths around blockchain-based payments, as well as how to think about real-world applications and unlock new revenue streams via blockchain.
“Blockchain isn’t going to solve world hunger. It’s not a magical fix for every problem,” said Goldi, who was joined on the panel by Nikola Plecas, head of commercialization, Visa Crypto.
Still, blockchain offers an improvement for financial systems, he said, underlining that the real power of blockchain comes from faster, more transparent value transfers, an area where stablecoins have gained traction.
While traditional payment systems such as Swift can take days to process transactions, Goldi said, stablecoins allow for near-instant cross-border payments in “under 10 minutes.”
More recently, PYMNTS noted that American corporations are increasingly recognizing the utility of stablecoins in cross-border payments, not as a replacement for fiat money, but as digital settlement layers that can function across borders more efficiently than traditional networks.
“The distinction matters,” the report added. “This isn’t a wholesale replacement of global finance; it’s a technological competition around the means of settlement, with stablecoins offering a leaner architecture for moving money internationally.”
