One of crypto’s largest tech providers is diving further into stablecoins. Fireblocks, valued at $8 billion in its last funding round in 2022, announced Thursday that it was launching a network to let crypto and financial firms more easily move stablecoins between one another. The network already has more than 40 participants, including Bridge, a stablecoin startup that the fintech giant Stripe recently acquired.
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Crypto firm Fireblocks launches a stablecoin payments network
"Either it’s super expensive from an engineering standpoint and takes them a lot of time, or if they’re starting to do it manually, then, of course, it’s basically prone to errors, so they can lose money,” Shaulov said, referring to companies wanting to build out their own stablecoin networks.
