Fireblocks Launches Stablecoin Payment Network: Challenging Stripe and Circle to Capture Global New Financial Infrastructure

With the rise of the stablecoin market and the implementation of regulations, payment networks and other infrastructure have also become battlegrounds for financial and technology giants. Blockchain security service provider Fireblocks has announced the launch of an enterprise-level stablecoin payment network, providing encryption companies and Financial Institutions with a safer, Compliance, and real-time cross-border capital flow service.

Fireblocks enters the stablecoin payment network: creating an instant enterprise payment engine

Fireblocks, valued at $8 billion, today announced the launch of an enterprise-grade stablecoin payment network, enabling institutions to securely and seamlessly move assets across different service providers, blockchains, and traditional financial channels through a unified API and workflow.

Currently, Fireblocks has attracted over 40 participants, including important players such as Circle, Bridge, Zerohash, and the African payment company Yellow Card.

Michael Shaulov, co-founder and CEO of Fireblocks, stated: "We are becoming the backbone of stablecoin payments, allowing institutions to complete value transfers in the safest and fastest way, whether cross-chain or cross-border."

Emerging Market Case: Africa's Payment Upgrade from Complexity to Scalability

The application value of Fireblocks has already been demonstrated in emerging markets. Chris Maurice, CEO of the African cross-border payment platform Yellow Card, stated that Fireblocks has completely transformed the payment process: "Transfers used to be slow and reliant on manual processes, but now, with Fireblocks, we can quickly expand our services to cover over 20 African countries."

In emerging markets, payments are often constrained by inadequate banking infrastructure, fragmentation, and liquidity limitations. Fireblocks' network is becoming a backbone for financial inclusion in these regions, highlighting the enormous potential of stablecoins in cross-border payments and B2B settlements.

Stablecoin payment competition intensifies: Stripe and Circle eyeing closely.

Fireblocks is not the only player entering the payment network; Stripe recently announced the launch of an official blockchain named Tempo, positioned as a payment-oriented L1, specifically designed for stablecoin transactions for enterprises. It features fiat-denominated transaction fees, addressing the inconvenience of existing public chains requiring payment of Gas in native tokens, further lowering the adoption threshold for enterprises.

At the same time, stablecoin issuer Circle has also launched its own L1 Arc, using USDC as the native Gas, and offering the yield product USYC. Additionally, through its own cross-chain transmission protocol CCTP, it deeply integrates cross-border and cross-currency settlement, enterprise-level payment tools, and AI agent management for B2B scalable payment scenarios.

( Inventory of the fiercely competitive stablecoin L1 Blockchain: Who can seize the global "on-chain payment" main battlefield? )

Global Payment New Railway: Traditional Giants Are Not Absent Either

DefiLlama data shows that the total market value of stablecoins has reached 288 billion USD, with monthly payment volume once exceeding 94 billion USD driven by B2B and card payments.

The market size has also attracted traditional financial giants to enter the field. Visa and Mastercard have gradually included stablecoins in their clearing platforms, while JPMorgan and Citibank have also been reported to be studying plans to issue their own dollar stablecoin.

The competition between Fireblocks, Stripe, Circle, and traditional payment networks is shaping a battlefield for digital financial infrastructure. From security compliance, usability to scalability, the stablecoin payment network still has a long way to go.

This article discusses Fireblocks launching a stablecoin payment network: challenging Stripe and Circle in the global new financial infrastructure, first appeared in Chain News ABMedia.