Fireblocks, Polygon, Solana, Stellar & TON Form $10T Consortium to Standardize Stablecoin Payments
Seven main blockchain infrastructure suppliers—Fireblocks, Polygon Labs, Mysten Labs, the Monad Foundation, the Solana Foundation, the Stellar Development Foundation, and the TON Foundation—have introduced the launch of the Blockchain Payments Consortium (BPC), an industry-wide initiative to standardize digital asset transactions throughout networks.
The founding members signify over $10 trillion in annual stablecoin transaction quantity. According to the assertion, the group will develop a unified framework to make cross-chain stablecoin transactions as seamless and data-compliant as conventional funds.
Building a Common Framework for Cross-Chain Payments
In 2024, on-chain cost quantity reached practically $20 trillion, surpassing Visa and Mastercard mixed. Yet regardless of this explosive development, blockchain funds stay fragmented by differing technical requirements, compliance protocols, and settlement mechanisms.
The Blockchain Payments Consortium will set up a typical framework for interoperability, designed to convey the convenience, reliability, and regulatory consistency of conventional cost networks to blockchain-based programs.
By coordinating between blockchains, regulators, and monetary establishments, the group seeks to lay the groundwork for a unified, borderless funds infrastructure.
“Over the final 18 months, our {industry} has achieved mainstream adoption, with funds on the forefront,” stated Ran Goldi, SVP of Payments and Network at Fireblocks.
“As extra established gamers enter the area, enhancing how we collaborate, coordinate, and function collectively is important. The Blockchain Payments Consortium presents an important platform to obtain this,” added Goldi.
Industry Leaders Align Around Interoperability
Executives from throughout the founding members emphasised that interoperability and compliance are the ultimate hurdles for blockchain funds to obtain world scale.
“At Polygon Labs, we see funds as essentially the most highly effective real-world use case for blockchain,” stated Jamal Raees, head of funds at Polygon Labs. “The way forward for funds is about connection and ease—making it as simple and dependable as sending a textual content.”
Lola Oyelayo-Pearson, director of commerce and shopper product at Mysten Labs, notes that high-friction interactions between fiat and blockchain programs have deterred mainstream adoption. “The way forward for hybrid funds is not going to exist with out requirements for interoperability,” she stated.
Raj Parekh, head of stablecoins and funds on the Monad Foundation, added that aligning innovation with monetary regulation is essential to scaling blockchain funds globally. “BPC’s framework will assist bridge that hole and allow sooner, safer, and extra constant cost experiences.”
Toward a Global, Trusted Blockchain Payments Network
From Solana to Stellar and TON, members share a imaginative and prescient of blockchain funds that mix velocity, scalability, and belief. “Solana permits capital to transfer on the velocity of the web,” stated Sheraz Shere, GM of funds on the Solana Foundation. “BPC will assist outline shared requirements that make blockchain funds as seamless and trusted as any conventional community.”
Raja Chakravorti, chief enterprise officer on the Stellar Development Foundation, emphasised that “true world adoption requires extra than simply velocity—it calls for belief, interoperability, and clear requirements.”
Nikola Plecas, VP of funds on the TON Foundation, concluded: “Through the Blockchain Payments Consortium, we’re uniting networks, establishments, and enterprises to make blockchain funds quick, trusted, scalable, and world.”
The BPC will start operations instantly, with working teams centered on technical requirements, compliance frameworks, and institutional integration set to launch in Q1 2025.
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