The alliance includes Franklin Templeton, VanEck, WisdomTree, Paxos and Kraken, and Avalanche said members are already supporting cross-border payments and institutional transaction networks on Avalanche infrastructure.
Avalanche said on June 18 that it launched the Avalanche Payments Collective, a group of 28 organizations formed to build payments infrastructure on the Avalanche network. The initiative is designed to connect core financial functions including settlement, stablecoins, treasury infrastructure, FX (foreign exchange), asset management, compliance and global payments. Members named by Avalanche include Franklin Templeton, VanEck, WisdomTree, Paxos, Kraken, Anchorage Digital, Ethena and the Wyoming Stable Token Commission, while the company also highlighted participants such as Axiym, Nonco and Request Finance. Avalanche said Axiym has processed more than $1.4 billion in cross-border payments on Avalanche, and that Tassat’s Lynq network migrated to an Avalanche L1 with more than $2.5 trillion in historical transactions. The effort points to a broader push to use blockchain-based rails for moving money and managing tokenized financial activity.