Seven leading crypto firms have announced the formation of the Blockchain Payments Consortium (BPC) to develop shared standards for crosschain stablecoin transfers. The move follows a successful year in 2024, where stablecoin transfer volumes exceeded those of major payment processors, Visa and Mastercard. The consortium aims to enhance blockchain transactions, integrate traditional payment systems, and collaborate with regulators to create seamless cross-border payments. Members include Fireblocks, the Solana Foundation, TON Foundation, Polygon Labs, Stellar Development Foundation, Mysten Labs, and Monad Foundation.