Overview
- Announced Nov. 6, the Blockchain Payments Consortium launches with reported founding members including Solana, Polygon, TON, Stellar, Mysten Labs/Sui, Monad, and Fireblocks.
- Its initial focus centers on harmonizing stablecoin transfers by aligning data formats, compliance requirements, and cross‑chain settlement processes.
- Participants say the group will serve as a bridge to regulators and traditional payment providers to make blockchain payments more predictable for institutions.
- Coverage cites large 2024 on‑chain payment volumes to motivate the effort, with reported totals varying by outlet from roughly $15 trillion to about $20 trillion.
- Detailed technical specifications, governance design, timelines, and specific bank integrations have not been released, with concrete standards still pending.