New Alliance Aims to Smooth Out Blockchain Payments

Seven major cryptocurrency firms have joined forces to form the Blockchain Payments Consortium (BPC), aiming to standardize cross-chain stablecoin transfers and streamline payments in the burgeoning crypto space. This move comes as stablecoin transaction volumes surge past $3.7 trillion, exceeding even Visa and Mastercard’s combined figures for 2024. The BPC hopes to create a more seamless experience when moving between traditional finance and blockchain-based systems by facilitating faster, lower-cost cross-border transactions while aligning with regulatory requirements.