Solana climbs back into tokenization spotlight as R3 brings big banks to its rails
The post Solana climbs back into tokenization spotlight as R3 brings big banks to its rails appeared on BitcoinEthereumNews.com.
Software development firm R3 has agreed to a deal with Solana Foundation to let its customers use the Solana network. The move could see Solana become a major tokenization hub. The UK-based firm announced the deal today, noting that collaboration will allow regulated financial institutions to bring their tokenized real-world assets to the network. R3 develops private blockchain networks for traditional financial institutions. According to the announcement, the partnership with Solana Foundation will merge TradFi and DeFi by bringing regulated financial products to the public blockchain when the RWA sector is attracting massive interest. It stated: “This brings the institutional TradFi and DeFi worlds into true convergence, marrying the unparalleled reach of R3 into the TradFi ecosystem with the scale, liquidity, and innovation of internet capital markets.” Interestingly, R3 announced that it chose Solana because of its performance, fees, and vibrant ecosystem, making it the ideal network for regulated digital finance. Solana Foundation president Lily Liu will join the R3 Board of Directors as part of the deal. The foundation also invested an undisclosed amount into the firm. Speaking on the deal, Liu described it as proof that public blockchains are ready for institutional adoption while adding that the future of capital markets will be on public infrastructure. The partnership could boost Solana’s activity The deal represents a massive milestone for Solana and could help boost the network activity and its image. Despite its emerging RWA tokenization market, the network’s memecoin sector remains the most prominent. This has impacted the network negatively, with the decline in memecoin interest leading to a plunge in its activity. The result has been struggles for the SOL token, which is down 8% this year despite gaining more than 4% today amidst the general market rally that saw Bitcoin hit a new all-time high at…
Filed under: News - @ May 22, 2025 10:25 pm