Solana, Fireblocks, Monad and more ally to standardize cross-chain payments

Solana, Fireblocks, Monad, Polygon, and others have formed the Blockchain Payments Consortium (BPC) to establish a common framework for cross-chain payments, aiming to enhance stablecoin transactions with the ease and data requirements of traditional payments.

The organizations noted that while on-chain payments volume neared $20 trillion in 2024, the landscape remains fragmented due to differing technical and compliance standards across blockchain networks. This initiative follows recent explorations into digital payments by entities like Coinbase, Citi, and Swift.

The BPC's mission is to unite networks, institutions, and enterprises to make blockchain payments fast, trusted, scalable, and global, addressing challenges when moving between traditional finance and blockchain. Members include the Stellar Development Foundation, TON Foundation, Solana Foundation, Monad Foundation, Fireblocks, Polygon Labs, and Mysten Labs.

(Source：The Block)