Solana (SOL) and Six Major Cryptocurrency Projects Form Partnership! Here Are the Details…

Partnership news continues to pour in in the cryptocurrency ￰0￱ latest news comes from Solana (SOL) and a group of crypto ￰1￱ to the statement, the Solana Foundation and six other major crypto organizations announced the establishment of the Blockchain Payments Consortium (BPC) to standardize payment ￰2￱ to Coindesk, seven organizations, including the Solana Foundation, Fireblocks, TON Foundation, Polygon Labs, Stellar Development Foundation, Mysten Labs, and Monad Foundation, have launched the Blockchain Payments ￰3￱ its statement, BPC said that they aim to increase the efficiency of blockchain payments by providing traditional payment convenience and creating a common framework between traditional payments and crypto.

“Our goal is to increase blockchain payment efficiency by creating a common framework that meets traditional payment data ￰4￱ payment networks are reshaping the global payments market, but the lack of connectivity with existing financial systems is causing fragmentation and inconsistency for users and institutions.” The volume of on-chain payments will reach approximately $20 trillion by 2024, surpassing the combined volume of Visa and Mastercard transactions. However, the situation remains uncertain because blockchain networks have different technical and compliance ￰5￱ recently stated that the consortium will aim to integrate blockchain-based, low-cost, high-speed cross-border remittances and regulatory-friendly payment ￰6￱ noted that they will act as a bridge connecting the blockchain ecosystem, regulators, and traditional financial institutions, adding, “we will create cross-border compatible compliance standards.” *This is not investment ￰7￱ Reading: Solana (SOL) and Six Major Cryptocurrency Projects Form Partnership!

Here Are the Details…