Crypto: Fireblocks onboards FIS amid launch of Payments Engine for businesses

Crypto: Fireblocks onboards FIS amid launch of Payments Engine for businesses

Fireblocks has launched Payments Engine, a suite of tools that enables payment service providers (PSPs) to offer a blockchain agnostic, end-to-end solution for merchants, entrepreneurs and creators.

Payments Engine allows merchants, entrepreneurs and creators to accept, manage and settle digital asset payment transactions in any jurisdiction., which served as an early pilot partner, has facilitated more than $1 billion in digital asset merchant settlements through the solution this year.

Max Rothman, Head of Crypto & Digital Assets at, said: “Across the globe, businesses, organizations, local governments, and individual consumers are all emphatically embracing new Web3 and digital payments technologies. To that end, through’s partnership with Fireblocks’ Payments Engine, we are able to pioneer new Web 3 solutions for our clients, such as our Stablecoin Settlement solution launched earlier this year. The result is faster, more affordable, and more secure transactions.”

Momentum in creator economies, streaming applications, and ride-sharing apps

FIS, the largest merchant acquirer in the world, has now joined the Fireblocks network of partners using the Payments Engine. FIS and its Worldpay solutions already provide card-to-crypto processing services for 4 of the top 5 cryptocurrency exchanges and was the first global merchant acquirer to offer USDC settlements. FIS and Worldpay collectively serve over a million merchants around the world.

Nabil Manji, Head of Crypto & Web3 at FIS, commented: “We’re enthusiastic about a wide-scale shift among enterprises and consumers towards digital payment systems. Together we will enable crypto-native and traditional businesses to accept, manage and settle digital assets so that they may choose their preferred currency for conducting business. This further builds on our relationship with Fireblocks, where we have already teamed to provide enterprise-grade digital asset investing and wallet technology to our capital market clients.”

Michael Shaulov, CEO of Fireblocks, said: “In the last several years, critical work has been done in the space to address pieces of the payments system. From stablecoin settlement to cross-border payments to payouts for creators, we believe that the payments system must be addressed holistically, especially as we see digital assets continue to proliferate into mainstream technologies and the global economy. We have seen a tremendous amount of momentum from some of the biggest names in categories such as creator economies, streaming applications, and ride-sharing apps, who are actively thinking about more efficient ways to remit payments to marketplace participants.”

Ran Goldi, VP and Head of Payments at Fireblocks, said: “The widespread use of stablecoins have made digital asset-based payments use cases very compelling for payments companies. Fireblocks’ new Payments Engine will allow PSPs to offer and interact with a new breed of payments technology. We have had the privilege of working alongside the largest PSPs in the world to develop innovative fit-to-purpose solutions to support the next generation of payments products and services. We’re excited to roll out our vision for the payments space with our partners and showcase the results of these collaborative efforts with our customers in the upcoming months.”

Fireblocks’ Payments Engine built after First Digital acquisition

Payments Engine provides a turnkey solution for businesses that want to integrate digital asset operations into existing or new products.

The engine was built leveraging the newly acquired digital asset payment specialist First Digital and allows PSPs to deploy new digital asset payment rails, expanding their capabilities to accept, collect, payout, process and settle transactions using digital assets.

Fireblocks is addressing growing demand from retailers as reports anticipate that over 75% plan to adopt digital asset payment services within the next two years.

Payments Engine offers merchants the flexibility of 24/7 settlement, increased cash flow, and reduced operational complexity. In addition to stablecoin settlements, PSPs can use Fireblocks’ Payment Engine for:

• Cross-border internal settlement — PSPs can now provide global, multinational companies ability to easily settle finances across multiple currencies with greater transparency
• Creator/seller payouts — Enabling PSPs to offer payouts to marketplace participants faster and with more transparency in a way that is more suited to micropayments
• Pay-ins — Allowing PSPs to enable their merchants to accept crypto as a payment method with significantly lower processing fees

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