Cross-border payment platform dLocal has announced that it has entered the Fireblocks Network for Payments to optimise fiat-stablecoin rails in emerging markets.
By joining the Fireblocks Network for Payments, dLocal aims to improve how institutions access liquidity providers and on/off-ramp with over 2,400 participants. Fireblocks, an enterprise platform for secure digital asset custody, settlement, trading operations, and stablecoin payments, operates as one of the largest digital asset ecosystems.
With dLocal entering the network, its local infrastructure across emerging markets is set to become part of this ecosystem, while Fireblocks scales its ability for institutions to develop advanced stablecoin payment flows.
Bridging fiat and stablecoins
Even if cryptocurrencies have been seeing accelerated adoption, bridging fiat and stablecoins still poses difficulties, especially in emerging markets. Global businesses continue to encounter operational complexities, high costs, and fragmented local rails when moving between traditional currencies and digital assets.
The integration with the Fireblocks Network for Payments aims to address these issues by merging Fireblocks’ global scale with dLocal’s local infrastructure and expertise in emerging markets. By being a part of the network, dLocal provides institutions with the ability to gain access to a trusted partner for on/off ramps. When it comes to businesses, this enables them to benefit from more efficient access to liquidity, lower operational costs, and the ability to connect with consumers across over 40 markets and more than 900 local payment methods.
Furthermore, commenting on the move, representatives from dLocal emphasised that the collaboration represents a significant step in bringing stablecoins and traditional finance closer together. By joining the Fireblocks Network for payments, the company aims to offer businesses a direct link into the world’s fastest-growing markets, supporting them in transacting more efficiently and gaining more reliable access to liquidity.
