The Stellar Development Foundation joined six other major blockchain projects to form the Blockchain Payments Consortium, aiming to establish common standards for cross-chain stablecoin payments and bridge traditional finance with blockchain infrastructure.
Seven major blockchain organizations, including the Stellar Development Foundation, Solana Foundation, Polygon Labs, Mysten Labs, Fireblocks, Monad Foundation, and TON Foundation, have formed the Blockchain Payments Consortium to create unified standards for cross-chain payments. The consortium seeks to simplify stablecoin transactions and reduce fragmentation across blockchain networks, which currently operate under different technical and compliance standards. On-chain payments reached nearly $20 trillion in 2024, exceeding Visa and Mastercard volumes combined. Stellar's Chief Business Officer emphasized that the consortium represents a critical step toward industry maturity, requiring trust, interoperability, and clear standards beyond speed and low costs.