PANews, June 18 — Avalanche announced the formation of the Avalanche Payment Alliance, which already includes 28 institutions such as Franklin Templeton, VanEck, WisdomTree, Paxos, Rain, Kraken, Anchorage Digital, Axiym, Nonco, and Request Finance, covering settlement, stablecoins, foreign exchange, treasury management, and cross-border payments. Axiym has cumulatively processed over $1.4 billion in cross-border payments on Avalanche, serving more than 150 countries and 96 currencies; Tassat’s Lynq network has migrated to an Avalanche independent L1, bringing over $2.5 trillion in historical transaction records. The alliance aims to provide payment companies with integrated settlement and compliance infrastructure, enabling enterprises to efficiently move funds across approximately 22 billion payment endpoints, including bank accounts, cards, and digital wallets.