Stablecoin News: Fireblocks Unveils Payments Network as SWIFT for Stablecoins

FinanceShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailFireblocks Dives Further Into Stablecoins With Intro of In-House Payments NetworkThe stablecoin network is designed to provide higher efficiency and lower risk than currently exists when providers use more fragmented and disperse systems.By Jamie CrawleyEdited by Nikhilesh De Sep 4, 2025, 4:19 p.m. Fireblocks has unveiled its own payments network to help participants move stablecoins around. (Fireblocks) What to know: Crypto custody heavyweight Fireblocks has unveiled its own payments network to help participants move stablecoins around.The network's participants already number more than 40, including Circle and Bridge, and process a combined 200 billion in stablecoin payments per month.Fireblocks described the new network as a stablecoin equivalent to SWIFT.Crypto custody heavyweight Fireblocks has unveiled its own payments network to help participants move stablecoins around.The Fireblocks Network for Payments is designed to combine on- and off-ramps, liquidity providers, banks and stablecoin issuers with higher efficiency and lower risk than currently exists when providers use more fragmented and disperse systems.STORY CONTINUES BELOWDon't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newslettersSign me upBy signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy.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 stablecoin equivalent to SWIFT, which enabled banks around the world to more easily send money across borders, in an announcement on Thursday. The network combines 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. Stablecoins, crypto tokens which are pegged to the value of a traditional financial asset such as a fiat currency, have undergone a boom in 2025, climbing to a market cap of over 280 billion in August from around 200 billion at the start of the year. *Reporting by Coindesk.*