On November 6, a group of seven blockchain-related companies teamed up to improve how stablecoin transactions work across different blockchains.
The companies, Solana
Their goal is to introduce a shared structure that makes crypto payments more compatible with the kind of data and rules used in traditional financial systems.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
How to Track Cryptocurrencies? (3 BEST Tracking Platforms Revealed)
The BPC stated that current blockchain payments can be confusing due to how different platforms operate. They aim to make things simpler, especially when funds are transferred internationally or across networks.
In their announcement, the BPC emphasized the importance of making blockchain work better alongside banks, payment providers, and regulators.
They want to create technical standards that can be used across different networks and regions, which helps companies build systems that function without compliance or integration roadblocks.
The BPC also said it wants to help close the gap between crypto systems and traditional finance by working with regulators.
This decision follows a year in 2024, where stablecoin transfers exceeded the transaction volumes of payment platforms like Visa and Mastercard.
Recently, several DeFi companies, including Aave
