A group of major blockchain players — including Solana, Fireblocks, Polygon, Monad, and others — have come together to form the Blockchain Payments Consortium (BPC), an alliance dedicated to creating a unified framework for cross-chain payments. The initiative marks a significant step toward making blockchain-based transactions as seamless and reliable as traditional payment systems.
According to a joint statement from the founding members, the consortium’s goal is to define “a common framework that enhances cross-chain transactions of stablecoins with the ease and data requirements of traditional payments.” This collaboration aims to address the current fragmentation across blockchain networks, where differing technical and compliance standards have long been a barrier to mainstream adoption.
The announcement comes amid a surge in blockchain payment activity. In 2024, on-chain payments reportedly surpassed $20 trillion in volume, exceeding the combined transaction totals of Visa and Mastercard. Despite this milestone, the industry continues to grapple with interoperability challenges — an issue the BPC hopes to solve through shared standards and collaborative innovation.
The momentum behind blockchain payments has been building steadily. Recent developments include Coinbase and Citi exploring fiat-to-stablecoin payout methods, and SWIFT announcing plans to integrate a blockchain ledger into its infrastructure to enhance cross-border payment efficiency. Growing regulatory clarity in the U.S. around stablecoins has further fueled interest, encouraging major financial institutions to experiment with blockchain for settlement and remittance.
“Over the last 18 months, our industry has achieved mainstream adoption, with payments at the forefront,” said Ran Goldi, SVP of Payments and Network at Fireblocks.
He emphasized that the consortium aims to bridge the gap between traditional finance and blockchain ecosystems.
Echoing this sentiment, Nikola Plecas, Vice President of Payments at the Solana Foundation, said, “Through the Blockchain Payments Consortium, we’re uniting networks, institutions, and enterprises to make blockchain payments fast, trusted, scalable, and global. Together, we’re laying the foundation for an inclusive, borderless digital economy for everyone.”
Founding members of the BPC include the Stellar Development Foundation, TON Foundation, Solana Foundation, Monad Foundation, Fireblocks, Polygon Labs, and Mysten Labs. Notably, the TON blockchain — supported by the TON Foundation — powers Telegram’s growing ecosystem, connecting nearly one billion users globally.
With this new alliance, blockchain leaders are signaling a shift toward cooperation over competition. The BPC’s efforts to standardize cross-chain payments could be a defining move toward integrating blockchain technology into everyday financial systems — bringing digital assets one step closer to universal acceptance.
