Race for global stablecoin rails heats up with Stripe, Fireblocks launches

Stripe and Fireblocks networks will go up against crypto-native players such as Ripple and Stellar, as well as established global processors like Visa.

The race to build global stablecoin payment rails is accelerating as traditional finance and crypto infrastructure companies bet on global money flow.

On Wednesday, blockchain infrastructure provider Fireblocks announced a global stablecoin payment network focused on compliance and connectivity, while Stripe CEO Patrick Collison unveiled Tempo, a new layer-1 blockchain designed for stablecoin transactions.

Fireblocks’ new stablecoin network is focused on interoperability for “programmable, compliant, real-time money movement," said Ran Goldi, Fireblocks’ senior vice president of Payments and Network.

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