Blockchain Payments Consortium Ignites Crosschain Revolution

Seven leading blockchain giants, including Polygon, Solana, TON, and Fireblocks, have joined forces to launch the Blockchain Payments Consortium (BPC), aiming to standardize and accelerate crosschain stablecoin payments globally.

This landmark collaboration addresses the fragmented blockchain payments landscape by defining interoperable standards that promise faster, reliable, and compliant digital money transfers.

The consortium members collectively represent over $10 trillion in annual stablecoin transaction volume.

In 2024 alone, blockchain-based on-chain payments surpassed $27 trillion—outdoing Visa and Mastercard combined—yet the lack of unified protocols and compliance standards has hindered seamless integration with traditional financial systems.

The BPC intends to fill this crucial gap by creating a shared framework to enhance blockchain interoperability and regulatory alignment.

Unifying Blockchain Payments to Overcome Fragmentation

The Blockchain Payments Consortium comprises established players including @ton_blockchain, @0xPolygon, @solana, @SuiNetwork, @StellarOrg, @Mysten_Labs, @monad, and @FireblocksHQ.

Their joint manifesto emphasizes the urgent need for an industry-wide language to reduce fragmentation that currently causes friction and inefficiencies in blockchain payments.

Ran Goldi, Senior Vice President of Payments and Network at Fireblocks, emphasized the importance of this cooperation.

He remarked , "Over the last 18 months, our industry has achieved mainstream adoption, with payments at the forefront. As more established players enter the space, improving how we collaborate, coordinate, and operate together is essential. The Blockchain Payments Consortium offers a vital platform to achieve this."

The BPC aims to set technical standards covering crosschain stablecoin transfers, transaction data disclosure, and anti-money laundering verification interfaces.

By bridging blockchain ecosystems, regulators, and traditional finance, the consortium seeks to provide seamless compliance solutions across jurisdictions, facilitating borderless transactions.

Building the Future of Digital Money

Among the founders, the Stellar Development Foundation highlighted the initiative as a "critical step forward" in maturing the blockchain industry.

The consortium combines diverse technological strengths: Solana’s high throughput, Polygon’s Layer-2 scaling, Mysten Labs’ high concurrency, and Fireblocks’ secure institutional infrastructure.

The BPC envisions enabling low-cost, instantaneous cross-border payments and remittances driven by blockchain rails that integrate with existing financial systems.

This ambition targets enterprises and financial institutions seeking unified, trusted payment networks.

Nikola Plecas, VP of Payments at the Solana Foundation, stated, "Through BPC, we are collaborating with networks, institutions, and enterprises to build a fast, trustworthy, and scalable global payment network—laying the foundation for an inclusive digital economy."

This unprecedented alliance promises to reshape the global payment landscape, embedding blockchain technology deeper into everyday financial operations and spurring wider adoption of digital assets.