The Solana Foundation has partnered with six other major blockchain organizations to launch the Blockchain Payments Consortium (BPC), a new initiative designed to create universal standards for digital asset transactions. The alliance aims to bridge the gap between the burgeoning crypto economy and the established world of traditional finance.

Joining Solana in this effort are Polygon Labs, the TON Foundation, Fireblocks, the Stellar Development Foundation, Mysten Labs, and the Monad Foundation. Together, they plan to develop a framework for seamless and regulated blockchain-based payments that can operate alongside conventional financial systems.

Tackling a Fragmented Landscape

As on-chain payment volume is projected to exceed $20 trillion in 2024—surpassing the combined annual transactions of Visa and Mastercard—the need for interoperability has become critical. Currently, different blockchains operate as isolated ecosystems, each with its own set of rules, creating friction for both users and businesses. The BPC intends to solve this fragmentation by establishing shared protocols for digital asset transfers.

The consortium’s primary goal is to make crypto transactions as reliable and straightforward as traditional wire or card payments. A key part of this involves aligning blockchain payment data with the compliance expectations of global regulators and financial institutions, ensuring the industry speaks a common technical language.

A Bridge Between Two Worlds

The founders of the BPC describe their mission as one of connection, not disruption. Instead of competing with the existing banking infrastructure, the alliance seeks to build a trusted bridge between the two. By developing robust cross-border compliance frameworks, the group hopes to foster trust among regulators while preserving the core benefits of blockchain technology—speed, transparency, and efficiency.

If the initiative succeeds, it could represent a major turning point for the mainstream adoption of cryptocurrencies. By transforming disconnected networks into globally recognized payment rails, the BPC could lay the foundation for the future of how value moves around the world.