Crypto: Solana Attracts Finance Giants Like Citibank And Franklin Templeton!

The world of traditional finance has never been so close to the blockchain ecosystem. While the boundaries between the two realms seemed rigid a few years ago, major institutional players are now decisively crossing the line. In 2024, Solana, one of the leading blockchain networks, is emerging as the new darling of global finance, attracting attention from giants like Citibank and Franklin Templeton. These actors, who were once cautious about the crypto universe, no longer hide their interest in the opportunities offered by Solana.

Franklin Templeton and Citibank: partnerships at the heart of the news

The announcement by Franklin Templeton, an asset manager worth $1.5 trillion, was one of the highlights of the Solana Breakpoint conference. According to Mike REED, Director of Partnership Development at Franklin Templeton, “the company is preparing to launch a series of mutual funds on the Solana blockchain“. REED justifies this decision by highlighting the “efficiency, transparency, and scalable infrastructure of Solana,” which he considers essential assets for the future of financial products. Solana’s development tools have also been praised by him, who called them “unequaled,” further reinforcing the idea that this blockchain is a strategic choice for major asset managers.

Citibank, the fourth largest bank in the United States, is also exploring the use of Solana for fast money transfers and complex smart contracts. The institution emphasizes the blockchain’s ability to handle a large volume of transactions, with increased security, thanks to its robust and scalable infrastructure.

A promising future for Solana in the institutional sector

The announced partnerships with Franklin Templeton and Citibank are already remarkable. But that’s not all. PayPal, for example, launched its PYUSD stablecoin on the Solana blockchain earlier this year. The company praised the scalable infrastructure and advanced token extension features of this blockchain. These initiatives show that the platform has become a key player for large companies looking to capitalize on blockchain for their financial products. Such adoption is not only linked to transaction speed, but also to Solana’s ability to handle unexpected demand spikes, as demonstrated during the memecoin frenzy in early 2024.

The long-term prospects for Solana are just as bright, with asset management giants like VanEck and 21Shares considering the creation of ETFs based on Solana. Although these initiatives have faced obstacles, particularly due to the caution of the SEC, they show the growing interest in Solana as an alternative to older blockchains like Ethereum.

Solana only needs to prove its resilience in the long term to consolidate this leading position!