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The Solana Foundation has announced the launch of the Blockchain Payments Consortium (BPC) alongside six major crypto organizations. The group aims to develop a global framework for secure and regulated blockchain payments. Members include Solana, Polygon Labs, TON Foundation, Fireblocks, Stellar Development Foundation, Mysten Labs, and Monad Foundation. Together, they represent more than $10 trillion in annual stablecoin transaction volume.
The initiative comes as on-chain payments surpass Visa and Mastercard in volume, yet remain fragmented across multiple systems. The consortium plans to align blockchain payment networks with the reliability and compliance of traditional finance. It also seeks to establish standards that make cross-chain stablecoin transactions more seamless and data-compliant.
BPC plans to design a system that improves coordination between blockchains, regulators, and financial institutions. This approach aims to bridge the gap between decentralized technology and established financial standards. The group’s focus is on interoperability, which remains a major obstacle to mass adoption.
In 2024, blockchain-based payments reached $20 trillion in volume, showing exponential growth in digital finance. However, different blockchains continue to operate under separate protocols, creating friction for users and businesses. BPC intends to reduce this fragmentation through shared frameworks that enable faster and cheaper cross-border transfers.
Ran Goldi, Fireblocks’ SVP of Payments and Network, said collaboration is essential as the industry matures. “As more established players enter the space, improving how we coordinate and operate together is vital,” he said.
The consortium’s framework will aim to bring reliability, security, and global compliance to blockchain transactions. The members plan to work closely with regulators to align blockchain payment data with international financial standards.
Interoperability is central to BPC’s mission. The absence of common standards has hindered blockchain’s integration into mainstream finance. The group’s shared protocols will allow different networks to communicate smoothly while maintaining transparency and trust.
Sheraz Shere, GM of Payments at Solana Foundation, stated that Solana’s goal is to move capital at the speed of the internet. He noted that BPC will help define standards that make blockchain payments as seamless as traditional systems.
Raja Chakravorti, the chief business officer of Stellar, mentioned that trust and interoperability are needed besides speed for huge adoption. Likewise, the VP of Payments of the TON Foundation, Nikola Plecas, noted that the coalition's goal is to connect the different networks, institutions, and businesses to make more extensive, faster, and trusted blockchain payments.
BPC’s collaborative design focuses on connection rather than disruption. Its goal is to complement existing banking systems while introducing modern efficiency. The consortium envisions a world where blockchain networks serve as unified rails for regulated global payments.
The Blockchain Payments Consortium aims to connect the dots between digital and traditional payment systems. The consortium members trust that through collaboration and uniformity, global trust can be created.
Working in different blockchain networks, BPC could create the ground for borderless and compliant transactions. This partnership could reshape the financial sector, raising an important question: Can blockchain achieve full interoperability while remaining decentralized?
The Blockchain Payments Consortium is indeed a very significant step towards the coexistence of the different blockchain networks within the confines of a single interoperable and regulated system. By establishing a connection with Solana and the other major players, it is not only aiming at making stablecoin payments easy, trustworthy, and universally accepted across different financial systems but also at creating a new world where money can flow freely.
Read More: Top Cryptos To Buy in November: Ethereum (ETH), Solana (SOL), and MUTM at $0.035
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