Fireblocks Liquidity Market Brings Streaming OTC Quotes Into Stablecoin Treasury
Payments firms on Fireblocks can request and compare OTC quotes from multiple desks in one environment. B2C2 and Zodia Markets are live at launch; Fireblocks says it takes no spread and does not custody conversion flows.
By Elena Marsh, Journalist, Stablecoins
Fireblocks announced on October 15, 2026 the launch of Fireblocks Liquidity Market, a trading environment that brings multiple OTC liquidity providers into one place for payments companies and other businesses buying and selling stablecoins. Customers can request quotes from multiple desks, compare them side by side, and execute using their existing relationships, credit terms and settlement arrangements with each provider.
Design partners at launch are MoneyGram, OpenPayd, Reap, TapTapSend and Zepz. Live liquidity providers at launch are B2C2 and Zodia Markets, with Cumberland, FalconX, GSR, Hercle, Nonco and Wintermute described as expected to follow.
How execution works
Trades execute through the Fireblocks Console or API, with each fill recorded against its originating quote. Fireblocks said it does not take any spread, does not sit in the flow of funds, and does not take custody at conversion; settlement happens directly between the customer and the liquidity provider. The Fireblocks Policy Engine enforces trading limits and execution permissions across connected desks, and connecting an account or executing an order requires quorum approval.
At launch, Liquidity Market supports major stablecoins against USD, EUR, GBP and other G10 currencies. Fireblocks said the product is available now to Fireblocks customers globally, with additional liquidity providers to be added on a rolling basis.
Volume context (company-attributed)
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, according to Fireblocks. The company positioned Liquidity Market as addressing a remaining manual step: price discovery and execution negotiated desk by desk outside the platform.
“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,” said Ran Goldi, Chief Payments & Network Officer at Fireblocks.
What is not live yet
Only B2C2 and Zodia Markets are described as live liquidity providers at launch. The additional desks named above are pipeline, not live. The $50 billion figure is a Fireblocks Network claim for the past 12 months, not a Liquidity Market trading volume.
Fireblocks says it does not take any spread and does not sit in the flow of funds or take custody at conversion; settlement stays between the customer and each liquidity provider.