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Stablecoins are moving from pilot projects into live bank infrastructure — but the path from proof-of-concept to production is anything but simple. Stephen Richardson, Chief Strategy Officer and Head of Banking at Fireblocks, joins John Lagman of Bloomberg at REDeFiNE Tomorrow 2026 to break down where banks actually stand with stablecoins: the infrastructure decisions they have to make, why most are still in early-stage evaluation, and what a scaled operating model looks like.

Pilots are running. Proof-of-concepts are live. But when does stablecoin activity at banks actually become a production revenue line? Stephen Richardson, Chief Strategy Officer at Fireblocks, lays out the three specific signals he is watching: large regional and GSIB banks enabling stablecoin acceptance as a corporate treasury product, banks initiating stablecoin payouts directly from DDA accounts, and the emergence of bank-to-bank stablecoin networks with compliant messaging infrastructure for cross-border settlement.

Fireblocks CEO Michael Shaulov sat down with Bloomberg at Money 20/20 Europe to launch Flow, a new product that lets payment companies, merchants, and fintechs accept and send stablecoins as simply as Plaid streamlined traditional payments. He breaks down where stablecoin demand is actually coming from, why cross-border corridors are driving adoption, and what a MiCA-compliant euro stablecoin could mean for dollar dominance.