Fidelity, a financial services company, has added Solana trading to its platform, making the network's native token available to each institutional and retail customers.
Solana (SOL) is now available for purchasing, selling and trading on Fidelity Crypto, Fidelity Crypto for IRAs, Fidelity Crypto for Asset Managers and the Fidelity Digital Assets platform for institutional investors, a spokesperson confirmed to Cointelegraph on Thursday. The spokesman added:
“The addition of Solana is a continuation of Fidelity’s greater than decade-long effort to develop the infrastructure, products and academic resources for digital assets according to the solutions we provide for traditional asset classes.”
The additional support for SOL signals that cryptocurrencies are maturing as an asset class and further narrows the gap between traditional and digital finance.
Source: Nick Ducoff
Solana desires to compete with Wall Street by becoming the house of Internet capital markets
According to CoinMarketCap, SOL has a market cap of over $104 billion and is the sixth largest cryptocurrency by market cap as of this writing.
Key developers throughout the Solana community say the network still has room for significant growth and intend to make it the house of Internet capital markets that may rival Wall Street.
Solana developers want the blockchain to host tokenized real-world assets (RWAs), including stocks, money market funds, stablecoins and collectibles, democratizing access to finance and unlocking liquidity trapped in traditionally illiquid asset classes.
Cross-chain interoperable versions of Tether's dollar-pegged stablecoin USDt (USDT) and Tether Gold (XAUT), a tokenized gold product, launched on Solana in October, potentially positioning the network as a cross-chain stablecoin liquidity hub.
The addition of those tokenized RWAs to Solana could make the network a central a part of the decentralized finance (DeFi) infrastructure, giving traders access to deeper stablecoin liquidity and reducing the chance of high volatility, depegging and trade slippage.
In September, regulators within the United States signaled their intention to overhaul the old economic system, which is closed at night, weekends and holidays, and move to a 24/7 trading schedule.
“Further expansion of trading hours could higher align U.S. markets with the evolving realities of a worldwide, always-active economy,” spokespeople for the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission said in a joint statement.
