Solana, a public blockchain designed for digital assets and financial applications, continues to see a rise in institutional and business uses while its native token SOL experienced significant price declines over the past year.
Solana network: Infrastructure versus assets
Solana functions as a decentralized platform for recording and transferring assets. CoinGecko lists the cryptocurrency SOL as the native coin of the Solana network, highlighting the distinction between the blockchain’s infrastructure, its currency, and the financial products issued atop it.
Recent reports emphasized that the existence of tokenized securities or payments products on Solana’s network does not equate to changes in SOL’s price or guarantee reduced risk. For example, when Mirae Asset Securities, one of Asia’s largest financial service groups, issued tokenized funding notes through its Hong Kong unit, the blockchain simply served as the infrastructure layer while Mirae remained responsible for the notes’ obligations and servicing.
Mini dictionary: Mirae Asset Securities is a global financial group based in South Korea, offering investment banking, asset management, and securities services.
In practice, financial responsibility and risk management for tokenized securities remain with the issuing company, not the blockchain hosting the digital asset.
Payment solutions and lending applications
Solana is increasingly being utilized for payment systems and lending products. Decrypt reported that Polygon has expanded its stablecoin payment infrastructure to Solana, enabling integrated bank funding, embedded wallets, cross-chain transfers, and global payouts. Cross-border entities like Kira are among the first to adopt these capabilities.
In a separate development, a Standard Chartered-backed venture introduced a regulated Hong Kong dollar gateway on Solana, though current details regarding customer access and requirements are limited.
Beyond payments, tokenized securities have also launched on Solana. Mirae’s Hong Kong operation issued tokenized US dollar floating-rate notes to institutional investors. The $3 billion program ceiling does not indicate the scale of any single offering. All terms regarding interest, redemption, and eligibility remain strictly bound by the original securities agreements rather than by the blockchain.
On the lending front, protocol developer Kamino opened a market on Solana where eligible users can use tokenized equities from Backpack Securities as collateral for borrowing USDC. This system is governed by asset-specific collateral requirements, liquidation rules, and independent pricing feeds.
Mini dictionary: Kamino is a DeFi platform that provides lending and liquidity solutions using automated risk controls on blockchains like Solana.
These lending applications remain subject to volatility and liquidation risk, even when built with controls to isolate risks within individual market pools.
| Use case | Main benefit | Key limitation or risk |
|---|---|---|
| Bank-integrated payments | Seamless transfer between banks and blockchain | Does not imply universal access |
| Tokenized securities | Efficient digital distribution | Issuer obligations fully apply |
| Collateralized lending | Tokenized assets enable new borrowing models | Collateral volatility and liquidation risk |
Access rules and SOL price movement
The adoption of Solana’s blockchain in products and services reflects targeted use, not open access for the public to all offerings. For example, Mirae’s tokenized notes were available exclusively to qualified institutional investors, not retail buyers.
SOL’s market price has been highly volatile. At 15:19 UTC on October 31, 2026, SOL traded at $95.80 according to CoinGecko, marking an 18.79% decline over the previous 30 days and a 49.12% drop over the past year. These statistics reflect past market movement and should not be regarded as guidance for future prices.
Integration with payments infrastructure or tokenization of securities on Solana does not create price guarantees, eliminate investment risk, or establish eligibility for general participants. Lending platforms on the network remain exposed to fluctuations in collateral value and market conditions.
Recording tokenized securities or assets on the Solana blockchain does not alter the original issuer’s responsibility, nor does it provide SOL holders with guaranteed returns or capital protection. Product access and market outcomes depend on eligibility criteria, asset risks, and independent price movements.
