The companies are extending their partnership to provide financial firms with the infrastructure needed to issue stablecoin-funded cards.

Through the partnership, Euronet and Fireblocks aim to bring stablecoin card programs into new markets and bridge the gap between digital assets and traditional card payments, the release said. The two previously partnered last year to offer settlement and pre-funding services for cross-border payments, per the release.

“A decade ago, stablecoins were just a trader’s tool to exit Bitcoin,” Fireblock’s chief payments and network officer, Ran Goldi, said in a release. “Today, combined with global cards, they are the ideal off-ramp for digital assets.”

Along with Euronet and Fireblocks, other major payments players, including card network Visa and processor Fiserv, as well as startups, are also eyeing the stablecoin market.

Earlier this month, MassPay, the Las Vegas-based direct payments company, said it teamed up with Block’s Cash App to provide a real-time payments service to those digital wallet account holders.

In a September interview, MassPay CEO Ran Grushkowsky said the company, which uses digital asset technology to provide payments to gig workers, contractors and marketplace sellers, has seen “growing demand for stablecoins, primarily by large-scale institutions that feel comfortable due to some clearance in the regulation.”

Meanwhile, Rain, the stablecoin infrastructure company, joined money transfer company Western Union’s digital asset network last year and locked arms with its rival MoneyGram in September. Rain enables corporate clients to integrate its digital asset technology into their architecture.

As startups vie for digital asset clientele, established payments providers have been racing to integrate stablecoins into traditional finance.

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