Security | Threat Detection | Cyberattacks | DevSecOps | Compliance

Financial market infrastructures (FMIs) form the backbone of the global financial system, playing a vital role in ensuring its safety, efficiency, and overall stability. FMIs—including payment systems, securities settlement systems, central securities depositories (CSDs), central counterparties (CCPs), and trade repositories—are now under growing pressure to evolve.

Stablecoins have moved beyond early experimentation, as Fireblocks’ State of Stablecoins 2025 report shows. Based on insights from nearly 300 C-suite executives across banking, fintech, and crypto-native firms, the findings indicate a clear shift from pilot programmes to operational deployment. In Europe, that shift is unfolding with measured intent—driven by regulatory clarity, infrastructure readiness, and a clear focus on competitive positioning.

In today’s financial system, stability isn’t optional—it’s the baseline. With banks embracing digital asset rails, stablecoins moving at scale, and regulation turning into a green light, the demand for enterprise-grade continuity has never been higher. According to our recent State of Stablecoins report: Yet despite this momentum, many institutions still face a major blocker: ensuring continuity and compliance standards that match the rigor of traditional financial systems.

Three years ago, we put together a slide showing how we believed stablecoin payments would evolve within businesses. The premise was simple: Fast forward to today, and we’re watching this play out in real time. The shift to stablecoins isn’t theoretical anymore—it’s happening. In the last twelve months, we have moved from sporadic exploration to massive experimentation, and now, implementation. Let’s double-click on the journey that PSPs are going through.

This week, Fireblocks announced a series of new products and features to make the blockchain experience a whole lot smoother. Whether onboarding users, scaling a DeFi app, or powering global payments, gas fees have long been a barrier to seamless retail applications for digital assets. With Universal Gasless, Fireblocks is removing a significant blockchain complexity.

This week, Fireblocks is expanding its platform with new capabilities that simplify, automate, and accelerate digital asset operations for your business. At the heart of the digital asset ecosystem, Fireblocks powers thousands of institutions moving billions in assets. As businesses grow in scale and complexity, so do the operational demands behind the scenes—from structuring wallets across clients and jurisdictions to ensuring funds move where they need to, fast.

You’ve launched your protocol—or you’re close. Engineers are building. TVL is starting to grow. But behind the scenes, your treasury operations are still stuck in browser wallets, spreadsheets, and Slack messages. That’s not just inefficient. It’s a liability. Strong treasury infrastructure isn’t a nice-to-have. It’s a growth enabler. Without it, your finance, ops, and engineering teams spend time plugging gaps instead of shipping products or scaling adoption.

The release of our State of Stablecoins report coincided with my time in Toronto for Consensus 2025, and I could not have asked for better timing. Stablecoins were everywhere: on-stage, in hallway conversations, across the expo floor. This wasn’t just crypto-native energy. It was banks, fintechs, regulators, and payment providers all coming to the same conclusion: stablecoins are no longer theory. They’re infrastructure.

Powering over 2,000 businesses and securing more than $10 trillion in digital asset transactions , we know what it takes not just to participate in this new economy — but to lead it. In the past 12 months, we’ve seen a clear shift. Crypto is entering the mainstream — and fast. With digital assets getting integrated into modern finance, the infrastructure supporting them must rise to the occasion — purpose-built for scale, security, and resilience.

The crypto market has grown to over $3.2 trillion, driven by institutional adoption, stablecoin innovation, and a boost in DeFi activity. But every new dollar—and every new user—expands the attack surface potential. From credential stuffing and phishing, to malicious smart contracts and front-end exploits, today’s threat landscape is broader, faster, and more sophisticated than ever.

Fireblocks is now working with Calastone, the largest global funds network, to support Web3 connectivity within Calastone’s Tokenised Distribution solution, a first-of-its-kind solution enabling asset managers to tokenize any fund on Calastone’s network and distribute it across blockchains such as Ethereum and Polygon. Fireblocks is providing secure infrastructure components that enable integration with Web3-native distributors.

For banks, the question is no longer if they should act, but how fast they must adapt. Over the last two decades we’ve seen a meteoric rise of fintechs, starting as small startups focused on user acquisition and hypergrowth. Today, these same firms are maturing into sustainable, profit-generating businesses proving they’re here to stay; they are fundamentally reshaping the financial services industry.