Visa now uses USDC on Solana to settle balances between acquirer and issuer banks. BlackRock's BUIDL fund, Franklin Templeton, and Société Générale are also live on the network.
A new piece from the Solana Research Institute, A Financial Institution's Guide to Solana, is published today. It works through the questions an FI analyst is likely to be asked: how the protocol settles and at what speed, how it is governed and funded in the absence of a corporate operator, where the ecosystem is concentrated, how it sits within existing regulatory frameworks, and which institutional products are already live.
The Guide treats the open questions seriously: validator concentration (Nakamoto coefficient of 19), the absence of designated settlement systems on public blockchain, the lessons from the 10/10/2025 deleveraging cascade, and the limits of bridging for real-world assets.
The full piece is available to read and download at: https://lnkd.in/dnrx_3Zw
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