Fireblocks, the enterprise platform securing $16 trillion in digital asset transactions, today launched Fireblocks Liquidity Market, bringing multiple OTC liquidity providers into a single trading environment for payments companies and other businesses buying and selling stablecoins. Customers can request quotes from multiple desks, compare them side by side, and execute leveraging their existing relationships, credit terms, and settlement arrangements with each provider.
MoneyGram, OpenPayd, Reap, TapTapSend, and Zepz have joined as design partners. B2C2 and Zodia Markets are live as liquidity providers at launch, with Cumberland, FalconX, GSR, Hercle, Nonco and Wintermute to quickly follow.
Over the past 12 months, OTC and trading firms moved nearly $50 billion in stablecoins to payments companies, fintechs and banks across the Fireblocks Network. Sourcing that liquidity remains largely manual, handled with each desk separately through its own portal, credentials and integration. Quotes often expire before they can be compared, and teams reconcile credit limits and balances by hand.
“Payments companies already hold their stablecoin treasury on Fireblocks, and most of the desks they trade with do too,” said Ran Goldi, Chief Payments & Network Officer at Fireblocks. “The one step still happening outside the platform was the price discovery itself, and execution, negotiated desk by desk over chat and email. Bringing it inside means the desks they trust can all bid for every trade, under the same controls and policies that govern the rest of their treasury.”
Fireblocks Liquidity Market gives teams a consolidated view of available credit, margin requirements and balances across every connected desk. Trades execute through the Fireblocks Console or API, and each fill is recorded against its originating quote. Fireblocks does not take any spread. At launch, Liquidity Market supports all major stablecoins against USD, EUR, GBP, and other G10 currencies.
Outside of Fireblocks, each desk grants trading permissions on its own platform, with nothing enforcing them across providers. In Liquidity Market, the Fireblocks Policy Engine enforces trading limits and execution permissions across every connected desk, and connecting an account or executing an order requires quorum approval. Fireblocks does not sit in the flow of funds or take custody at conversion. Settlement happens directly between the customer and the liquidity provider.
“Payments companies have become some of the most consistent stablecoin volume in the market, and they want to trade where their treasury already sits,” said Nick Philpott, co-founder of Zodia Markets. “Now that Zodia Markets is available inside Fireblocks, they can see our pricing and trade without leaving their existing workflow.”
“At our scale, depth of liquidity is very important, particularly in markets that aren’t deeply liquid in the traditional sense. Being able to draw on multiple providers at once, rather than relying on a single desk, is how you build resilience into the hard to reach corridors.” said Anthony Silva, SVP, Treasurer, at MoneyGram.
Read Also: MoonPay Names Anne Giviskos as Chief Financial Officer
