Fireblocks Builds Bridge Between Web2 and Web3 with Stablecoin Network

Fireblocks, a leading crypto infrastructure provider valued at $8 billion in its 2022 funding round, has unveiled a new stablecoin payment network aimed at streamlining cross-border and institutional transfers. The Fireblocks Network for Payments, launched on Thursday, facilitates seamless movement of stablecoins among financial and crypto firms, addressing longstanding inefficiencies in building and managing such systems in-house. With over 40 participants already on board—including Bridge, recently acquired by Stripe, as well as stablecoin firms like Zerohash, Yellow Card, and Circle—the network offers access to a broader ecosystem of banking relationships and regulatory licenses than most organizations typically possess [1].

The network’s architecture is designed to simplify complex processes that otherwise require substantial engineering resources and are prone to manual errors, according to Michael Shaulov, Fireblocks’ co-founder and CEO. He highlighted the cost and time inefficiencies of building proprietary solutions, particularly for companies looking to convert one stablecoin into another or send funds across jurisdictions. Fireblocks’ system is built to handle these tasks efficiently, offering a scalable alternative to legacy financial infrastructure [1].

Stablecoins, which are digital assets pegged to traditional assets like the U.S. dollar, have gained significant traction in fintech and beyond. Their advantages—lower transaction fees, faster settlement times, and ease of use—have drawn the attention of Big Tech and financial institutions, especially following the July passage of a U.S. federal bill outlining regulatory parameters for stablecoin adoption. Fireblocks, which already processes billions in stablecoin transactions daily, reached a notable milestone in July by handling $212 billion in stablecoin volume. However, Shaulov noted that its existing infrastructure was originally tailored for crypto trading, not for the unique requirements of stablecoin-based payments [1].

The company’s new network is also being leveraged in other markets to drive innovation. In Colombia, Wenia, a digital asset platform launched by Grupo Cibest in May 2024, has built its entire digital asset stack on Fireblocks’ infrastructure. The platform, which supports custody, staking, and token issuance—including its own stablecoin, COPW—has processed $65 million in transaction volume in less than a year. Wenia’s CTO, Mauricio Serna, emphasized Fireblocks’ role in bridging traditional and blockchain infrastructure, enabling secure and scalable operations across Web2 and Web3 systems [2].

Another high-profile application of Fireblocks’ technology is in the United States, where the state of Wyoming has launched the Frontier Stable Token (FRNT)—the first state-backed stablecoin in the country. Issued simultaneously across seven blockchain networks, the token is backed by U.S. dollars and short-term treasuries, with a 2% overcollateralization requirement. Fireblocks provided the tokenization and custody infrastructure, enabling minting, burning, and multi-chain distribution. The initiative, managed by the Wyoming Stable Token Commission, aims to serve as a regulatory model for other states and entities while expanding secure digital settlement options [3].

Wyoming’s rapid deployment of FRNT—moving from contract signing to mainnet availability in under a year—demonstrates how government bodies can adopt blockchain without compromising compliance. The state also plans to make FRNT available on its own exchange, Kraken, further expanding its use cases. Fireblocks’ role in this project underscores its growing influence in supporting both institutional and government-backed digital asset initiatives. As stablecoins continue to bridge traditional and crypto finance, Fireblocks’ infrastructure is playing a central role in facilitating cross-border payments and multi-chain tokenization at scale [3].

Source: [1] Crypto firm Fireblocks launches a stablecoin payments ... (https://fortune.com/crypto/2025/09/04/fireblocks-network-for-payments-stablecoins-michael-shaulov/) [2] Wenia (https://www.fireblocks.com/customers/wenia/) [3] Wyoming launches first state-backed stablecoin (https://thepaypers.com/crypto-web3-and-cbdc/news/wyoming-issues-first-us-state-backed-stablecoin-across-blockchains)