Fireblocks specializes in the security and management of active crypto assets for businesses. It provides a platform that allows financial institutions, stock exchanges, and investment funds to securely store, transfer, and issue cryptocurrencies. Today, it announces the launch of a new service to facilitate stable-neck transactions and improve the speed and security of digital payments. Head to New York to take stock of this new product.
Fireblocks Network for Payments wants to become the SWIFT of stablecoins
The Fireblocks Network for Payments is designed to be a kind of SWIFT (Society for Worldwide Interbank Financial Telecommunication) for stablecoins, allowing financial institutions to connect and exchange tokens backed by fiat currencies such as the US dollar or the euro.
This network aims to solve problems of fragmentation and lack of interoperability between different stablecoin platforms, which can slow down transactions and increase security risks.
The new Fireblocks service is already being used by more than 40 companies
Early users of the network include names such as Circle, the issuer of USDC, as well as platforms such as Bridge and zerohash. These companies use the network to offer faster and more secure payment services to their customers.
For example, Circle uses the network to allow its customers to transfer USDC between different wallets and platforms without having to go through expensive and slow intermediaries. For its part, Bridge uses the network to facilitate cross-border payments in stable corridors for its institutional customers.
With this new service, Fireblocks is positioned in the highly competitive market for stablecoins and wants to establish itself as the leader in the sector. It should be noted that the company is not alone in this niche, as Circle has also launched its own payment network. Case to be followed.