In a rare display of collaboration across competing ecosystems, the Solana Foundation has formed a formal alliance with several of its key rivals — Polygon, TON, Sui, and Monad — along with infrastructure leader Fireblocks. Together, these entities have established the Blockchain Payments Consortium (BPC), an initiative designed to create a unified framework for blockchain interoperability and regulatory compliance.
The creation of the BPC marks a turning point for the blockchain sector, which has long been characterized by fragmentation and competitive isolation. The new consortium intends to address one of the most persistent challenges in the digital asset industry: the inability of different blockchain networks to communicate and transfer value seamlessly. The partners emphasized that their collaboration would serve as a bridge between blockchain platforms, regulators, and traditional financial institutions, offering a consistent compliance and interoperability model across jurisdictions.
Collaborative Approach to a Fragmented Industry
The initiative directly tackles a paradox that has long defined the cryptocurrency economy. Despite blockchain networks collectively settling more than $15 trillion in on-chain transactions during 2024 — a figure surpassing the combined processing volume of Visa and Mastercard — the activity largely remains confined within individual ecosystems. This lack of interconnectivity has hindered the full potential of blockchain-based finance.
For enterprises and financial institutions, this siloed environment introduces multiple layers of complexity. Transferring value across different blockchains often requires navigating incompatible protocols, inconsistent compliance standards, and disjointed security frameworks. The BPC aims to eliminate these frictions by developing shared technical standards and governance models, enabling cross-chain payments to function with the same ease as traditional interbank transactions.
A Shared Vision for Global Blockchain Payments
Through the Blockchain Payments Consortium, Solana and its partners intend to redefine how digital assets move across networks. Their objective is to create a standardized framework for transaction data exchange, compliance verification, and cross-chain settlement. This harmonization effort seeks to make digital value transfer as efficient, secure, and transparent as fiat currency movement within global banking systems.
The BPC also aims to align blockchain innovation with regulatory expectations, ensuring that institutional participants can operate within a predictable and compliant environment. By establishing uniform operational standards, the consortium expects to make blockchain technology more accessible to traditional financial players while maintaining the decentralized integrity that underpins public networks.
Bridging Public Blockchains and Traditional Finance
The consortium’s broader ambition is to bridge the gap between the dynamic, open-source world of decentralized networks and the stringent frameworks of conventional payment infrastructures. It intends to provide enterprises with a standardized rulebook for on-chain transfers that meets global compliance requirements without compromising decentralization.
Industry analysts view this partnership as a significant development in the evolution of blockchain-based finance. By setting aside competition in favor of interoperability, Solana and its peers are positioning themselves to facilitate the next phase of digital payments — one driven by collaboration, regulatory clarity, and technical consistency.
The alliance also signals a recognition among leading blockchain projects that achieving mass adoption requires shared infrastructure rather than isolated innovation. The success of the BPC could serve as a model for future multi-chain initiatives aimed at unifying the broader Web3 landscape.
As the Blockchain Payments Consortium begins its work, expectations are high that this coalition of former rivals will help establish a global standard for decentralized payments, paving the way for seamless, compliant, and universally trusted blockchain transactions.