Fireblocks Dives Further Into Stablecoins With Intro of In-House Payments Network

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.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…