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Seven crypto firms have joined forces to establish common standards for crosschain stablecoin transfers, following a bumper year in 2024 where transfer volumes surpassed those of Visa and Mastercard.&nbsp;
Fireblocks, the Solana Foundation, TON Foundation, Polygon Labs, Stellar Development Foundation, Mysten Labs and Monad Foundation <a href="https://x.com/bpconsortium/status/1986464063581294981" rel="noopener noreferrer nofollow" target="_blank">said</a> on Thursday they’re linking up to form the Blockchain Payments Consortium (BPC).
The group is aiming to create a “common framework that enhances blockchain transactions with traditional data requirements of traditional payments.”
“Blockchain rails are reshaping the global payments landscape. But for blockchain payments to reach full potential, we must address the inconsistent and fragmented experiences individuals and institutions face when moving between traditional payments and blockchain,” the BPC <a href="https://blockchainpaymentsconsortium.substack.com/p/introducing-the-blockchain-payments" rel="noopener noreferrer nofollow" target="_blank">said</a> in its manifesto.&nbsp;
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 Source: <a href="https://x.com/bpconsortium/status/1986464063581294981" rel="noopener noreferrer nofollow" target="https://x.com/bpconsortium/status/1986464063581294981">Blockchain Payments Consortium</a>
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<a href="https://cointelegraph.com/learn/articles/stablecoins-101-what-are-crypto-stablecoins-and-how-do-they-work" rel="noopener noreferrer nofollow" target="_self">Stablecoin transfer volumes</a> are up 4.36% in the last 30 days, with adjusted transaction volume topping $3.7 trillion, <a href="https://app.artemisanalytics.com/stablecoins" rel="noopener noreferrer nofollow" target="_blank">according</a> to the blockchain analytics platform Artemis Terminal.
Meanwhile, for all of 2024, the total reached $27.6 trillion, <a href="https://cointelegraph.com/news/stablecoins-beat-visa-mastercard-2024-volume" rel="noopener noreferrer nofollow">surpassing the combined volumes of Visa and Mastercard</a> by 7.7%.&nbsp;
<h2 id="framework-hopes-to-spur-adoption">Framework hopes to spur adoption&nbsp;</h2>
Among the goals of the BPC is to enable faster, <a href="https://cointelegraph.com/explained/what-are-cross-border-payments-and-how-do-they-work" rel="noopener noreferrer nofollow" target="_self">low-cost cross-border payments</a> and remittances, while also integrating blockchain ecosystems into traditional finance and aligning with regulators.&nbsp;
“This will enable financial institutions, enterprises, and other organizations to build systems that work seamlessly across networks and borders,” the BCP said.&nbsp;
It added that it wanted to “act as a bridge between blockchain ecosystems, regulators, and traditional financial institutions; offering a consistent, interoperable framework for compliance across jurisdictions.”
Related: <a href="https://cointelegraph.com/news/elixir-sunsets-stablecoin-amid-stream-finance-saga" rel="noopener noreferrer nofollow">Elixir sunsets deUSD stablecoin in reaction to Stream’s $93M loss</a>
<h2 id="critical-step-toward-maturity">Critical step toward maturity&nbsp;</h2>
Stellar Development Foundation chief business officer Raja Chakravorti <a href="https://stellar.org/blog/foundation-news/stellar-development-foundation-joins-blockchain-payments-consortium-as-founding-member" rel="noopener noreferrer nofollow" target="_blank">said</a> the alliance of crypto firms is “a critical step forward in maturing our industry.”
Fireblocks <a href="https://x.com/FireblocksHQ/status/1986450363113734534" rel="noopener noreferrer nofollow" target="_blank">added</a> that there is “no shared language for blockchain payments,” which results in “friction, fragmentation, and missed potential.”
Fireblocks’ senior vice president of payments, Ran Goldi, <a href="https://x.com/FireblocksHQ/status/1986450369652621574" rel="noopener noreferrer nofollow" target="_blank">said</a> the industry has<a href="https://cointelegraph.com/news/major-stablecoins-growing-crypto-adoption" rel="noopener noreferrer nofollow" target="_self"> begun to see wider adoption</a>, but more collaboration is needed. 
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 <img alt="Stablecoin" src="https://s3.cointelegraph.com/uploads/2025-11/019a5ce2-94d1-72d5-8806-d811d1db8900" title="">
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 Source: <a href="https://x.com/FireblocksHQ/status/1986450369652621574" rel="noopener noreferrer nofollow" target="_blank">Fireblocks</a>
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“Over the last 18 months, our industry has achieved mainstream adoption, with payments at the forefront. As more established players enter the space, improving how we collaborate, coordinate, and operate together is essential,” he said.&nbsp;
Magazine: <a href="https://cointelegraph.com/magazine/good-luck-suing-crypto-exchanges-market-makers-flash-crash/" rel="noopener noreferrer nofollow">Good luck suing crypto exchanges, market makers over the flash crash</a>

New crypto group aims to make unified standards for blockchain transactions

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Other articles published on Nov 7, 2025

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