Fireblocks says stablecoins now make up 75% of its $7.5 trillion annual volume

Stablecoins now account for 75% of the $7.5 trillion in annual transaction volume flowing through Fireblocks. Four years ago, that share was just 15–20%.

Fireblocks is a digital asset infrastructure provider. Think of it as the plumbing and security layer institutions use to custody, move, and settle tokens without building that machinery themselves.

Research on Fireblocks’ network adds some detail. USDC is reportedly the most used stablecoin on the platform, with a 53% share of stablecoin volume. Monthly stablecoin volumes are said to exceed $300 billion.

The platform supports more than 300 payment service providers, fintechs, and banks, according to the research.

Payments, not punts

The research identifies cross-border payments as a key driver. Institutional settlements are another.

The research also points to partnerships with major fintech firms and remittance companies such as MoneyGram and Western Union as part of the growth story.

The payment segment reportedly grew 110% year-over-year.

Fireblocks has responded with new products. The company launched a Liquidity Market designed to improve executable pricing for stablecoin payments.

How we got here

The research attributes part of the change to regulatory clarity, which has made larger institutions more comfortable using stablecoins.

The research frames this as stablecoins becoming payment and cross-border tools rather than speculative instruments.

What this means

USDC’s 53% share on Fireblocks is worth noting. It suggests that within institutional payment flows, the stablecoin with a strong regulatory posture is winning.

For infrastructure providers, the message is that payments are where the growth is. Fireblocks building a Liquidity Market shows it sees pricing and conversion as the next problem to solve.