• Bitwise CIO Matt Hougan called Solana the new Wall Street, citing its speed and appeal to financial institutions.
• Solana recorded $222 million in Q3 revenue, maintaining its lead among major networks.
• A surge of new projects and integrations highlights the network’s growing dominance in stablecoins and tokenized assets.

Solana has drawn major attention from the traditional finance sector as Bitwise’s Chief Investment Officer, Matt Hougan, described it as the “new Wall Street.” Speaking on October 2 with Solana Labs’ Akshay Rajan, Hougan explained that institutional investors increasingly view the network as the ideal platform for stablecoins and real-world asset tokenization.

As Hougan states, though Bitcoin is still a significant store of value, it is perceived as too abstract and hard to implement in traditional finance’s operations.

However, SOL’s infrastructure does support 2straight up to the next level of the evolution of the financial markets, the tokenization of assets like bonds, stocks, and real estate.

He pointed out that comments from the world’s major financial organizations, such as the SEC, the Bank of England, and BlackRock, all have pointed toward tokenization and stablecoins’ transformative power.

Hougan noted that the network’s performance at high speeds makes it even more attractive. Its transactions achieve finality in microseconds, and they provide the efficiency that is in line with Wall Street’s trading requirements. Its ability, coupled with scalability and low cost, makes the network competitive in Blockchain-based finance.

Solana Surpasses 1 Billion Accounts Milestone

Latest statistics from the Solana register the all-time high quarter. The network generated revenue of $222 million in Q3, consecrating four quarters in a row at number one among major blockchain networks. It also crossed the one billion total accounts barrier, a significant milestone that heralds mass adoption and interest from developers.

The network, in one week, had multiple high-impact debuts. Tokelized gold from Oro Gold was launched, and Moonbirds had tokenization intentions on the Solana chain. There was also the launch of USYC, Circle’s tokenized money market fund, and USX, the delta-neutral stablecoin that had $166 million in supply within its first day of launch.

Solana Grows with $2.5 Billion Keel Finance Launch

Ecosystem growth expanded even to tokenized real-world assets. When it launched, the doors for it opened up $2.5 billion for backing DeFi, RWAs, and liquidity layers on the network. Even Republic planned to tokenize the equity of Animoca Brands, demonstrating growing faith in the network’s financial-grade infrastructure.

Phantom, meanwhile, introduced CASH, a brand-new stablecoin slated for inclusion across Stripe’s international merchant network. These moves confirm an unmistakable trend: The network’s fattening from fast chain to real-world financial foundations is in progress now.

Also Read: Solana Skyrockets Above $230, Is $300 the Next Explosion?