Avalanche launches payments collective with 28 institutions

Layer-1 blockchain Avalanche (AVAX) announced today the launch of the Avalanche Payments Collective, a group comprising 28 institutions. According to an official blog post, the collective aims to formalize the network already operating on Avalanche and unite organizations building the infrastructure for next-generation payment and settlement systems. Members include Franklin Templeton, VanEck, WisdomTree, Paxos, Agora, Ethena, Anchorage Digital, and Kraken.