Solana, Fireblocks Lead Push for $20 Trillion Blockchain Payments Framework

- Solana, Fireblocks, Polygon, and Monad established the Blockchain Payments Consortium (BPC). - The initiative aims to streamline stablecoin transactions and address fragmentation in payment standards. On November 6, 2025, The Block reported that leading blockchain organizations, including the Solana Foundation, Fireblocks, Polygon Labs, the Monad Foundation, the Stellar Development Foundation, the TON Foundation, and Mysten Labs, have formed the Blockchain Payments Consortium (BPC). The group aims to develop a standardized framework for cross-chain payments in response to the rapid global adoption of blockchain technology. With global on-chain payments surpassing $20 trillion in 2024 and exceeding the combined transaction volumes of Visa and Mastercard, the BPC seeks to address key challenges arising from a fragmented payment standard landscape. Its primary focus is to streamline stablecoin transactions, which continue to gain traction due to increasing demand for efficient digital payment solutions and recent advancements in regulatory clarity in regions like the United States. This initiative aligns with rising momentum in the blockchain payments space, where partnerships like Coinbase and Citi exploring similar integrations reflect the industry's collective drive for faster and more scalable digital payment solutions. Therefore, BPC members aim to leverage their combined expertise to create a robust framework that will further cement blockchain's role in fostering a borderless digital economy. According to CoinMarketCap data from November 6 at 15:08 UTC, market trends reflected mixed performance. Solana (SOL) was trading at $157.98, and Polygon (POL) was at $0.165, with their 24-hour trading volumes decreasing by 0.41% and 0.94%, respectively. Similarly, Sui (SUI) traded at $1.959 and Hedera (HBAR) at $0.167, marking decreases of 3.28% and 3.52%. In contrast, Toncoin (TON) traded at $1.931, posting a 0.79% increase in its 24-hour trading volume.