Lo! A new fraternity hath been formed, the Blockchain Payments Consortium, with a noble aim: to establish common decrees for the movement of digital coinage across the vast expanse of blockchains. 🧙♂️💸
According to the proclamations of participants and industry scribes, this consortium hath gathered seven mighty firms and foundations, each a patron of diverse blockchains and infrastructures. A veritable league of crypto knights! 🦸♂️
The group, in its lofty aspirations, seeks a shared framework, encompassing both the arcane technical rites of transfer and the compliance data that banks and regulators, those fickle guardians of order, demand. 🧾
Blockchain: The Quest to Standardize Cross-Chain Stablecoin Transfers 🧙♂️
The founding fathers listed include Fireblocks, Solana Foundation, TON Foundation, Polygon Labs, Stellar Development Foundation, Mysten Labs, and Monad Foundation – a veritable league of crypto knights. 🦸♂️
Based on reports, the initial focus shall be on stablecoin payments that traverse the realms of different blockchains. This domain hath grown immense: on-chain payments last year were reported at roughly $20 trillion, a figure that market watchers cite when arguing for clearer, shared rules. 🌍✨
15T+ settled on-chain in 2024. Stablecoins now move more than Visa and Mastercard combined. 🏦💳
But blockchain payments remain fragmented. Each network runs on different technical and compliance standards. 🤖
Imagine what happens when it all works together. That’s what the Blockchain…
– Fireblocks (@FireblocksHQ) November 6, 2025
Why The Group Formed
Industry sources whisper that the consortium’s backers seek to diminish the friction that arises when one chain speaks in tongues and another in a different dialect. Reports note that firms and banks often require consistent data attached to payments – origin, purpose, and compliance flags – before they will accept a payment. 🧾
The consortium aims to define how that data should travel along with a token when it crosses networks, and how settlement and reconciliation should be handled so companies can rely on the result. 📜
According to BPC, blockchain rails are “reshaping the global payments landscape.” But for blockchain payments to reach full potential, the group said they must “address the inconsistent and fragmented experiences individuals and institutions face when moving between traditional payments and blockchain.” 🌐
Behold! A mysterious artifact from the blockchain realm, captured mid-transaction. 🧾
Across the realms of industry and regulation, the group plans to act as a bridge. It expects to propose templates that exchanges, custodians, and payment processors can use so that audits and reporting become easier. 🧭
Some members have warned that getting regulators across several jurisdictions to accept the same approach will be difficult. Reports also point out that different chains use different technical designs, which makes a one-size-fits-all solution hard to implement. 🧠
The consortium has described its work in general terms so far, focusing on a framework rather than a finished protocol. Based on reports, concrete outputs could include data formats, API patterns, and recommended checks that service providers should run during cross-chain transfers. 🧩
Read More
- Steam RPG From 2023 Being Removed Next Month and PC Users Aren’t Happy: “Huge Potential Wasted”
- Kunitsu-Gami: Path of the Goddess ‘Mazo Talisman: Yashichi Waves’ update launches in July
- Deadlock The Doorman Guide: Big Tips & Tricks
- ‘My Name Is Jeff’: Channing Tatum Played Another Jeff In Roofman, And Is Considering Legally Changing His Name
- Gears of War: Reloaded is Now Available
- ‘LEGO Batman: Legacy of the Dark Knight’ Reveals Its 7 Main Batsuits
- Yakuza Maker’s Next PS5 Game Gets a Brief Behind-the-Scenes Video
- Alabaster Dawn Demo is Now Available on PC
- Preview: Teamwork Is the True Terror of Little Nightmares 3
- Jujutsu Kaisen’s Sequel Fixes the Original Series’ Biggest Mistake
2025-11-07 16:49