Crypto Giants Unite: Fireblocks, Polygon & Stellar Launch Stablecoin Payments Consortium

Blockchain heavyweights are teaming up to rewrite the rules of digital payments—and Wall Street's watching closely.

The Stablecoin Alliance Goes Live

Fireblocks, Polygon, and Stellar just dropped a bombshell: a new consortium focused on stablecoin payments infrastructure. No vague whitepaper promises here—this is a coordinated play to dominate the $150B+ stablecoin market.

Why This Changes Everything

Forget clunky legacy systems. The group's combining enterprise-grade custody (Fireblocks), scalable settlement (Polygon), and cross-border rails (Stellar) into what could become the PayPal of crypto—if they can avoid the usual consortium infighting.

The Fine Print

Notice who's missing? Tether and Circle. This isn't about creating new stablecoins—it's about making existing ones actually useful for payments. The timing's perfect, with Visa and SWIFT still stuck in blockchain POC purgatory.

The Bottom Line

Either this consortium cracks the code on mass crypto adoption... or becomes another footnote in DeFi's graveyard of overhyped partnerships. But with these players? Bet against them at your peril.

Industry level collaboration 

Executives from the founding members say better collaboration is key as blockchain payments grow.

Highlighting how blockchain payments have grown in the last year and a half, Fireblocks’ Ran Goldi said better collaboration is needed in the industry to keep up with demand.

“Over the last 18 months, our industry has achieved mainstream adoption, with payments at the forefront. As more established players enter the space, improving how we collaborate, coordinate, and operate together is essential. This is especially critical for Fireblocks, a key…

He noted, “The Blockchain Payments Consortium offers a vital platform to achieve this,” emphasizing the importance of shared standards for faster and safer transactions. Fireblocks itself handles about 15% of all blockchain transactions and serves 70% of institutions, showing why coordinated efforts matter.

Stellar’s Raja Chakravorti said that while blockchain can MOVE money quickly and cheaply, wider adoption needs trust, clear standards, and interoperability. 

He highlighted, “The Blockchain Payments Consortium represents a critical step forward in maturing our industry,” noting that BPC’s work to create common frameworks fits Stellar’s vision of open and accessible financial infrastructure.

Lola Oyelayo-Pearson, Director of Mysten Labs, said the rise of stablecoins shows the payments industry is ready for blockchains like Sui, which can settle transactions almost instantly and handle large volumes.

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