Fireblocks Debuts Liquidity Market to Aggregate OTC Stablecoin Pricing

Digital asset infrastructure provider Fireblocks launched Fireblocks Liquidity Market, a unified trading hub connecting corporate payments firms directly with over-the-counter (OTC) liquidity providers for stablecoin transactions ¹. The rollout targets corporate treasuries and cross-border payment firms seeking streamlined price discovery and execution without toggling between separate dealer interfaces ¹.

MoneyGram, OpenPayd, Reap, TapTapSend, and Zepz joined the initiative as design partners ¹. At launch, B2C2 and Zodia Markets are active as liquidity providers, with Cumberland, FalconX, GSR, Hercle, Nonco, and Wintermute slated to join on a rolling schedule ¹. The service supports major stablecoin pairs alongside fiat currencies including the US dollar, euro, British pound, and other G10 currencies ¹. Over the preceding 12 months, OTC firms transferred nearly $50 billion in stablecoins across the Fireblocks Network to banks, fintechs, and payments processors ¹.

Treasury Governance and Settlement Rules

Under the setup, Fireblocks does not sit in the flow of funds, hold custody during conversion, or capture trading spreads ¹. Settlement remains bilateral between participating customers and their counterparties using existing credit terms and settlement pipelines ¹.

Trades operate through the Fireblocks Console or API, where the Fireblocks Policy Engine enforces execution rules and trading limits across all linked desks ¹. Connecting external trading accounts and executing orders mandates quorum approvals ¹. The platform also consolidates views of available credit lines, margin thresholds, and cross-desk balances to mitigate manual reconciliation and expired quote risks ¹. At the time of writing, broader stablecoin markets trade near par, with $USDT quoted at $0.9988.