Blockchain Payments Consortium Launches to Enhance Stablecoin Transactions
The Blockchain Payments Consortium (BPC) unites major blockchain firms to improve stablecoin payments across networks. Members include Fireblocks, Polygon Labs, Mysten Labs, the Monad Foundation, Solana Foundation, Stellar Development Foundation, and TON Foundation.
The consortium aims to create shared technical standards and enhance cross-chain interoperability. It seeks to simplify transactions, making payments faster, safer, and more reliable across different blockchains.
Common Standards to Boost Blockchain Payments
Currently, each blockchain follows its own rules, causing fragmentation in payments. The BPC plans to develop a unified framework to enable seamless payments worldwide, bridging blockchain ecosystems, regulators, and traditional finance.
This initiative follows a year of rapid growth in blockchain settlements, with over $15 trillion settled on-chain in 2024. This volume has already surpassed transactions made by Visa and Mastercard, highlighting the need for coordinated standards.
Industry Leaders Stress Collaboration for Growth
Executives from founding members emphasize that collaboration is key to sustaining the growth of blockchain payments.
- Ran Goldi, Fireblocks CEO, said better coordination is essential to meet increasing demand. Fireblocks handles 15% of all blockchain transactions and serves 70% of institutions. He called the consortium a vital platform for establishing shared standards.
- Raja Chakravorti of Stellar noted that trust and interoperability are critical for wider adoption. He said BPC’s goals align with Stellar’s vision of accessible and open financial infrastructure.
- Lola Oyelayo-Pearson, Director at Mysten Labs, highlighted stablecoins’ rise and praised the consortium as a sign that the payments industry is ready for fast, high-volume blockchains like Sui.
For more details, visit the official Blockchain Payments Consortium announcement.
