Fireblocks: The Institutional On-Ramp to Stablecoin Payments at Scale | Review

Fireblocks provides the digital asset infrastructure that more than 2,200 institutions use to custody, transfer, and settle stablecoins. With over $10 trillion in digital asset transactions secured and a payments network connecting 300+ providers across 100 countries, this is the platform banks and payment companies are choosing when they move from crypto curiosity to production.

Founded 2018 | HQ: New York | Funding: $1.04 billion | Valuation: $8 billion

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Overview

Fireblocks was founded in 2018 by Michael Shaulov (CEO), Idan Ofrat (CPO), and Pavel Berengoltz (CTO), all veterans of Israeli cybersecurity. The company was born from a straightforward observation: institutions wanted exposure to digital assets but had no infrastructure that met their security and compliance standards.

The core product is an MPC-based (multi-party computation) custody and transfer platform that eliminates single points of compromise for private keys. Rather than storing a complete key in one location, Fireblocks distributes encrypted key shards across multiple parties and devices. This approach has secured over $10 trillion in cumulative transfers across 150+ blockchains.

In September 2025, Fireblocks launched the Network for Payments, a compliance-embedded infrastructure connecting banks, fintechs, and payment providers to the stablecoin ecosystem. The network launched with 40+ participants including Circle, Bridge (acquired by Stripe), and more than 300 payment companies. It processes over $200 billion in stablecoin payments monthly across 100+ jurisdictions. As we covered in our analysis of x402 and stablecoin settlement, the infrastructure for institutional stablecoin payments is being built now. Fireblocks is laying a significant portion of that plumbing.

What We Like

MPC custody that institutions actually trust. Fireblocks built its reputation on multi-party computation technology that distributes private key material so no single point of compromise can result in asset loss. The MPC-BAM protocol is five times faster and uses 50 times less bandwidth than competing approaches. BNY Mellon, BNP Paribas, Revolut, and ANZ Bank all rely on this architecture for digital asset custody in production.

The payments network is a genuine ecosystem play. The Fireblocks Network for Payments is not a single integration. It is a multi-party network connecting 300+ banks, fintechs, and payment providers with shared compliance infrastructure. The strategic collaboration with Circle and interoperability with Circle Payments Network gives institutions unified access to USDC liquidity alongside multi-stablecoin support. This is closer to a SWIFT for stablecoins than any competitor has achieved.

Unmatched certification stack in the crypto infrastructure space. Fireblocks holds SOC 2 Type II (zero material findings, audited by Ernst & Young), all three ISO certifications (27001, 27017, 27018), and the first-ever CCSS-QSP Level 3 certification. No other crypto infrastructure provider has achieved this combination. For regulated financial institutions evaluating digital asset platforms, this certification depth is a decisive factor.

Scale that validates enterprise readiness. 2,200+ institutional clients. $10 trillion in secured transactions. 35 million stablecoin transactions per month, accounting for 15 percent of global stablecoin volume. Named clients include BNY Mellon, BNP Paribas, Revolut, Worldpay, Galaxy, and ANZ Bank. This is not a startup seeking product-market fit. It is a category leader processing at institutional scale.

What to Watch

Enterprise pricing with limited transparency. Fireblocks does not publish detailed pricing. A starter tier reportedly begins at $699 per month for the first six months, but enterprise pricing is custom and undisclosed. Industry estimates suggest annual costs range from $15,000 to well above $100,000 depending on transaction volume and custody requirements. This prices out smaller fintechs and makes cost comparison with competitors like BitGo and Anchorage difficult without a sales engagement.

Onboarding complexity reflects the enterprise model. The platform is powerful but not simple to deploy. MPC wallet setup, policy engine configuration, and network integration require dedicated implementation support. Organisations without crypto-native engineering teams should budget for a multi-week onboarding process. This is typical for enterprise infrastructure but worth noting for teams expecting self-serve deployment.

Competitive pressure from regulated custodians. Anchorage Digital holds the only OCC federal bank charter in crypto and serves BlackRock and PayPal. BitGo covers 1,500+ tokenized assets across 60+ chains. As traditional banks build in-house digital asset capabilities, the competitive landscape is intensifying. Fireblocks' advantage is breadth (custody, transfer, payments network, and compliance in one platform), but no position is permanent in a market this active.

Pricing and Deployment

Fireblocks operates a tiered pricing model. A starter plan begins at $699 per month (introductory six-month rate), with enterprise pricing customised based on assets under management, transaction volume, and vault configuration. Deployment is API-first with comprehensive SDKs across TypeScript, Python, Go, and Java. Cloud, on-premises, and hybrid deployment options are available. A developer sandbox is provided for testing.

Compliance and Security

Fireblocks holds SOC 2 Type II (audited by Ernst & Young, zero material findings), ISO 27001, ISO 27017, ISO 27018, ISO 22301, and CCSS-QSP Level 3. The company operates a 24/7 Security Operations Centre across US, EMEA, and APAC. NCC-audited cryptographic libraries and regular penetration testing underpin the security architecture. The platform supports DORA compliance for EU-regulated entities.

Verdict

Fireblocks is the right choice for banks, payment providers, and financial institutions that need production-grade stablecoin and digital asset infrastructure with institutional security standards. The combination of MPC custody, a 300+ member payments network, and the strongest certification stack in the crypto infrastructure space makes it the default option for regulated entities entering the stablecoin ecosystem. Smaller fintechs and startups should evaluate whether the enterprise pricing and onboarding complexity match their stage. Anchorage Digital offers a regulated custodian alternative, while BitGo provides broader tokenised asset coverage. With Circle collaboration deepening and stablecoin payment volumes accelerating through 2026, Fireblocks is positioning itself as the institutional backbone of the stablecoin economy.

Try Fireblocks: fireblocks.com

Editorial disclaimer: Reviews reflect the independent editorial assessment of Major Matters and are not sponsored or endorsed by the companies reviewed. We recommend conducting your own evaluation to determine whether any product is the right fit for your specific requirements.

Charlie Major is a Product Development Manager at Mastercard. The views and opinions expressed in Major Matters are his own and do not represent those of Mastercard.