Finance

Blockchain Payments Consortium Launches: Can Solana and Others Unify Cross-Chain Stablecoin Transactions to Rival Visa and Mastercard?

Blockchain firms launched a consortium to create a unified framework for fast, compliant, and reliable cross-chain payments.

byAndres Castro

November 6, 2025, 3:40 PM

Seamless pattern of stacked blue USDC stablecoin tokens on a yellow background.

An isometric pattern of blue cryptocurrency coin stacks, representing the stablecoin concept. By MDL.

Executive Summary

A consortium of major blockchain entities, including Solana Foundation, Fireblocks, Polygon Labs, and TON Foundation, has launched the Blockchain Payments Consortium (BPC).

The BPC aims to create a unified framework for cross-chain stablecoin payments to match the speed, compliance, and reliability of traditional payment systems.

The initiative seeks to address the fragmentation in the digital payments sector by developing technical standards for seamless network communication and enhancing interoperability and regulatory compliance.

The Story So Far

The formation of the Blockchain Payments Consortium is driven by the significant fragmentation within the digital payments sector, where varying technical and compliance standards across networks hinder seamless cross-chain transactions despite high on-chain payment volumes. This initiative also responds to a growing industry push for enhanced interoperability and regulatory compliance, further propelled by increasing regulatory clarity around stablecoins in the U.S., which is accelerating institutional adoption and the integration of blockchain technology with traditional financial systems.

Why This Matters

The formation of the Blockchain Payments Consortium (BPC) marks a pivotal industry effort to standardize cross-chain stablecoin payments, aiming to overcome fragmentation and enhance interoperability within the digital payments sector. This initiative has the potential to make blockchain-based transactions a more competitive and reliable alternative to traditional payment systems, thereby accelerating institutional adoption of blockchain technology and fostering faster, cheaper, and more compliant global financial transactions.

Who Thinks What?

The Blockchain Payments Consortium (BPC) and its founding members aim to establish a unified framework for cross-chain stablecoin payments to rival traditional systems, addressing fragmentation and enhancing interoperability and regulatory compliance.

Industry leaders believe the blockchain payments sector has achieved mainstream adoption, emphasizing the rising demand for secure, efficient solutions that adhere to financial regulations while offering scalability and speed, and are optimistic that uniting networks, institutions, and enterprises will make blockchain payments fast, trusted, scalable, and global.

The broader financial industry, including major banks and institutions like Coinbase, Citi, and Swift, is actively exploring fiat-to-stablecoin settlement methods and integrating blockchain technology for cross-border transactions, driven by increased regulatory clarity, which they believe will accelerate the integration of legacy financial systems with blockchain for faster and cheaper global transactions.

A consortium of prominent blockchain entities, including the Solana Foundation, Fireblocks, Monad Foundation, Polygon Labs, TON Foundation, Stellar Development Foundation, and Mysten Labs, has launched the Blockchain Payments Consortium (BPC). This new initiative aims to establish a unified framework for cross-chain payments, specifically focusing on stablecoin transactions designed to rival the speed, compliance, and reliability of existing traditional payment systems.

Consortium Addresses Fragmentation in Digital Payments

The BPC’s formation underscores a growing industry push to enhance interoperability and regulatory compliance within the digital payments sector. Despite on-chain payment volumes surpassing $20 trillion in 2024, exceeding the combined totals of Visa and Mastercard, the blockchain payment landscape remains fragmented due to varying technical and compliance standards across networks. The consortium seeks to address this by developing technical standards for seamless network communication.

These efforts align with broader movements in the financial industry, such as Coinbase and Citi’s exploration of fiat-to-stablecoin settlement methods, and Swift’s work to integrate blockchain technology for cross-border transactions. Increased regulatory clarity regarding stablecoins in the United States is also driving institutional adoption, with major banks now testing blockchain frameworks for settling diverse asset classes. Industry leaders believe this clarity will accelerate the integration of legacy financial systems with blockchain technology, promising faster and cheaper global transactions.

Industry Leaders Emphasize Adoption and Evolution

Ran Goldi, Senior Vice President of Payments and Network at Fireblocks, highlighted the sector’s maturation, stating, “Over the last 18 months, our industry has achieved mainstream adoption, with payments at the forefront.” His comments emphasize the rising demand for secure, efficient blockchain solutions that adhere to financial regulations while offering scalability and speed.

Ultimately, the BPC endeavors to ensure that inter-blockchain payments offer the simplicity of traditional systems while preserving the inherent benefits of decentralization. Nikola Plecas, Vice President of Payments at the TON Foundation, expressed optimism, noting, “Through the Blockchain Payments Consortium, we’re uniting networks, institutions, and enterprises to make blockchain payments fast, trusted, scalable, and global.”