As global digital payments explode, a new alliance is forming to make blockchain transactions more coherent and compatible with the traditional banking world.
Key Takeaways
- Seven blockchain organizations collaborate to streamline crypto-based payment systems.
- The new Blockchain Payments Consortium (BPC) aims to bridge traditional finance and on-chain infrastructure.
- The move could help address regulatory fragmentation as on-chain transactions near $20 trillion.
Solana Foundation, joined by six prominent crypto organizations, has unveiled the Blockchain Payments Consortium (BPC) — a cooperative effort to shape the future of blockchain-powered finance.
The initiative unites Solana, Polygon Labs, TON Foundation, Fireblocks, Stellar Development Foundation, Mysten Labs, and Monad Foundation, all of whom share a common objective: building the foundation for seamless, regulated blockchain payments.
Rethinking How Value Moves Globally
The consortium’s vision centers on one key idea — interoperability. As blockchain payments scale to unprecedented volumes, the absence of universal standards has become a major obstacle. The group aims to close that gap by developing shared protocols that can coexist with existing financial systems, making digital asset transfers as reliable as wire or card transactions.
A spokesperson for the consortium said its goal is to “align blockchain payment data with the expectations of global regulators and financial institutions.” In other words, BPC wants to make sure that the crypto world speaks the same technical and compliance language as the traditional one.
The Scale of the Opportunity
Industry forecasts estimate that on-chain payment volume could surpass $20 trillion by 2024 — eclipsing the combined annual transactions processed by Visa and Mastercard. Yet, despite this staggering momentum, each blockchain still operates within its own ecosystem, often governed by separate standards, creating friction for users and businesses alike.
BPC’s launch is a response to that fragmentation. By coordinating across networks and developers, the group plans to build a foundation for low-cost, high-speed cross-border transfers that can satisfy regulators without compromising blockchain’s efficiency.
Bridging the Old and the New
The consortium’s founders describe their mission as one of connection — not disruption. Rather than competing with existing banking systems, BPC wants to act as the bridge between them. The goal is to develop cross-border compliance frameworks that regulators and financial institutions can trust, while preserving the benefits that make blockchain payments unique: transparency, speed, and inclusivity.
If successful, the initiative could mark a turning point for mainstream crypto adoption, transforming blockchain networks from isolated experiments into globally recognized payment rails.
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Source: https://coindoo.com/solana-leads-new-global-alliance-to-standardize-blockchain-payments/