In a significant move toward industry collaboration, the Solana Foundation is joining forces with major competitors—including Polygon, TON, Sui, and Monad—to establish the Blockchain Payments Consortium (BPC). Announced on November 6, the alliance, which also includes infrastructure firm Fireblocks, aims to create a unified framework for institutional payments across different networks.

This coalition directly confronts a central paradox in the digital asset space. While blockchain networks collectively settled over $15 trillion onchain in 2024, a figure that dwarfs the volume of giants like Visa and Mastercard, this activity remains fragmented. For businesses and financial institutions, navigating different chains means dealing with a complex web of incompatible standards and varied compliance rules.

Forging a Common Framework for Payments

The BPC wagers that collaboration, not just competition, is the key to unlocking the next wave of digital finance. According to its manifesto, the group will serve as a bridge between blockchain ecosystems, regulators, and traditional financial institutions. Their goal is to standardize transaction data and compliance protocols, creating a consistent and interoperable framework for cross-jurisdictional payments.

Ultimately, the consortium seeks to build a predictable rulebook for on-chain transfers. They envision a future where digital value can move between blockchains as effortlessly as fiat currency moves between banks today. By creating this shared foundation, the BPC aims to give enterprises the confidence to operate at scale while preserving the decentralized power that makes these networks unique.