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Solana news, analysis and interviews

Solana is the high-throughput chain that became the venue for consumer applications, memecoin trading and, increasingly, tokenized assets and payments. This desk covers the network, its validator economics, the projects building on it and the ETFs and treasury companies that now hold SOL.

Guide: What is staking? How proof-of-stake yieldSOL price and chartSOL to USD converterNewsletter
Solana (SOL)$118.5351-1.61% 24hReference rate via CoinGecko · All prices
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Full SOL chart →
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Solana voices from the show

Solana Foundation releases Solana DvP escrow program for institutional settlement
Institutional

Solana Foundation releases Solana DvP escrow program for institutional settlement

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InstitutionalCrypto Coin Show News Team·October 6, 2026·2 min read

Solana Foundation today released Solana DvP, an open-source escrow program that enables delivery-versus-payment settlement on the Solana blockchain. The tool compresses multi-day institutional settlement into single atomic transactions, settling both asset and cash simultaneously or neither at all, with finality in seconds.

  • J.P. Morgan provided input on institutional settlement practices and securities expertise.
  • Program supports SPL Token and Token-2022 with extensions for regulated issuers.
  • Solana DvP has completed external security audits and is ready for real funds.

Solana Foundation announced Solana DvP, an MIT-licensed escrow program that replaces bespoke smart contracts with a standardized settlement rail for financial institutions trading on the blockchain. The program settles the simultaneous exchange of securities and cash in a single atomic transaction, eliminating the counterparty risk that persists across traditional multi-day settlement cycles through clearinghouses and custodians.

Atomic Settlement Eliminates Multi-Day Capital Lockup

Traditional securities settlement ties up capital for one to two days as trades move through clearinghouses, depositories, and custodians. Solana DvP compresses this process into a single transaction: both legs settle together or neither does, with finality in seconds.

The program supports SPL Token and Token-2022, including extensions that regulated issuers depend on, such as permanent delegate, pausable tokens, and transfer hooks. Any two counterparties can use it with any settlement agent, a bank, a custodian, or an exchange.

J.P. Morgan Shaped Institutional Requirements

A shared, open standard for atomic delivery-versus-payment is exactly the kind of foundational infrastructure institutional market participants require to operate at scale without introducing settlement risk and counterparty exposure.

Rhodel D’souza, Head of Markets Digital Assets, J.P. Morgan

J.P. Morgan provided decades of securities settlement expertise to shape the program from the start, though the bank disclaims any role in designing, developing, operating, or endorsing Solana DvP. The collaboration reflects Solana’s positioning as a venue for tokenized real-world assets.

Security Status and Production Readiness

Solana DvP has undergone external security audits and is cleared for use with real funds. The Foundation plans to add privacy features to enable confidential trade settlements.

The program is now open to design partners and early participants before the production release. Code is available on GitHub.

Standardization Replaces Custom Smart Contracts

Institutional trades settling on-chain have historically relied on bespoke smart contracts, each carrying its own audit and operational burden. Solana DvP replaces that fragmentation with one reusable standard across the ecosystem, reducing friction for institutions entering blockchain-based settlement.

The announcement does not specify which institutions or asset classes will adopt DvP first, nor does it disclose a timeline for the production release. The document also does not address regulatory approval or compliance pathways in major jurisdictions.

The CCS read. DvP standardization on Solana removes a genuine friction point for institutions: every bespoke contract was a new audit, a new operational matrix, a new counterparty risk surface. One open standard materially lowers the cost of entry for banks and custodians to settle tokenized assets on-chain. The real test is adoption, not architecture. We’re watching which custodians integrate first.

Solana Foundation is accepting design partners and early participants ahead of production release; watch for announcements naming the first institutions to deploy real settlement flows using Solana DvP.

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Shiba Inu launches on Solana via Wormhole-backed Sunrise gateway
Memecoins

Shiba Inu launches on Solana via Wormhole-backed Sunrise gateway

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MemecoinsCrypto Coin Show News Team·October 5, 2026·3 min read

Shiba Inu (SHIB), the Ethereum-based meme coin, has launched on Solana through Sunrise, a cross-chain token gateway backed by Wormhole Labs, abandoning its years-long strategy of steering holders only toward its own Shibarium network. The move drops SHIB into Solana’s meme-coin arena just as Bonk (BONK), the chain’s dominant dog-themed token, trades at its weakest level since November 2023.

  • SHIB gained 3.89% in the 24 hours after the Solana listing went live, per BeInCrypto price data, and is up 2.69% over the past week.
  • SHIB remains roughly 93% below its October 2021 all-time high despite the short-term rally.
  • Solana base transaction fees run 0.000005 SOL, a fraction of a cent, versus Ethereum fees that fluctuate with network demand.
  • 3.89% SHIB’s 24-hour gain after the Solana listing went live
  • 93% SHIB’s decline from its October 2021 record high
  • Aug ’23 BONK slid to its lowest level since November 2023 after Upbit announced a delisting

SHIB is now live on Solana for the first time, routed through Sunrise, a token gateway that lets assets move between blockchains as the original, or canonical, token rather than a wrapped copy. The bridge runs on Wormhole’s Native Token Transfers standard, and Solana confirmed the listing on its official account on Sunday, October 4, 2026, first reported by BeInCrypto. The SHIB team followed up the next day with its own post on Monday, October 5, 2026, confirming the expansion.

Sunrise Makes SHIB a Canonical Asset, Not a Wrapped Token

Sunrise’s design matters for institutional desks because it avoids the custody and redemption risk tied to wrapped assets, where a bridge contract holds the original token while issuing a synthetic version elsewhere. Monad’s MON token was Sunrise’s first listing before SHIB became its second, giving the gateway an early track record with at least one other major asset.

Wormhole Labs built the underlying NTT standard specifically to let tokens retain a single, verifiable supply across chains rather than fragment liquidity into competing wrapped markets.

For SHIB, that distinction is the entire pitch to traders.

Shibarium’s Collapse Pushed SHIB Toward a Rival Chain

The expansion breaks years of SHIB strategy that funneled holders exclusively toward Shibarium, the project’s in-house layer-2 network. Earlier in 2026, on-chain data showed Shibarium usage collapsing at the same time SHIB traded near multi-year lows, leaving the token without a strong home-chain narrative.

Solana offers a ready-made alternative audience and a cost advantage: its 0.000005 SOL base fee per transaction compares favorably with Ethereum, where fees swing with network congestion and can spike during busy periods.

That cost gap is the same dynamic drawing other projects to Solana’s infrastructure, including the OUSD stablecoin launch and the rise of perpetuals trading tools built for the chain’s retail user base.

Solana Warns of Fake SHIB Tokens on tokens.xyz

Unofficial tokens using the SHIB name already circulate on Solana, a risk the network addressed directly by urging traders to verify the official contract address on tokens.xyz before transacting.

That warning underscores the practical hazard of chain-hopping meme assets: liquidity migrates faster than verification tools can keep pace, leaving an opening for impersonator contracts to capture mistaken volume.

Whether SHIB’s Solana debut draws durable trading volume, rather than a one-day price pop, will determine if other Ethereum-based tokens follow the same Sunrise route.

The CCS read. We read this less as a Solana story than a Shibarium one. A token team abandoning its own layer-2 for a rival chain’s liquidity signals Shibarium failed to generate the usage needed to retain holders, and treasury strategy built around that network now looks weaker than the price chart suggests.

The next signal to watch is whether SHIB’s Solana trading volume holds once the announcement-driven rally fades, and whether Sunrise lands a third major token after Monad’s MON and SHIB to prove the gateway can scale beyond its first two listings.

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Drift opens recovery token claims at one cent per dollar lost from $285 million exploit
DeFi

Drift opens recovery token claims at one cent per dollar lost from $285 million exploit

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DeFiCrypto Coin Show News Team·October 4, 2026·4 min read

Drift Protocol has begun paying out its DFX recovery token at roughly one cent per dollar of verified loss from April’s $285 million exploit, drawing on a pool that only grows as fast as trading revenue allows. For institutional desks weighing DeFi tail risk, the launch shows that even a Tether-backed rescue converts into a slow, revenue-linked repayment schedule rather than an immediate bailout.

  • Drift opened DFX claims and redemptions on October 1, 2026, exactly six months after the April 1 exploit.
  • The Recovery Pool held about 3.1 million USDT against 299,500,810.998 DFX tokens tied to verified losses.
  • Tether has committed up to $127.5 million and partners up to $20 million toward a roughly $150 million plan.
  • 1.04% of each verified dollar lost, paid per DFX at launch
  • $150M combined Tether and partner commitment against $285M in losses
  • Jan 2028 deadline before unclaimed DFX tokens are burned

Drift Protocol said in its launch announcement that DFX claims and redemptions went live on October 1, 2026, giving victims of the April 1, 2026 exploit a way to pull USDT out of its Recovery Pool, a mechanism first detailed by CryptoSlate. DFX is a standard SPL token on Solana, issued one-for-one against each verified dollar lost in the attack, separate from Drift’s DRIFT governance token and tradable on exchanges such as Raydium. Redeeming it is final: the USDT payout and the token burn happen in a single transaction, and burned DFX no longer shares in future deposits.

Drift Pays 0.0104 USDT per DFX as Pool Opens Near 3.1M USDT

At launch the Recovery Pool held about 3.1 million USDT against the full 299.5 million DFX supply, producing a redemption rate of roughly 0.0104 USDT per token, or about 1.04% of each dollar of verified loss. Drift’s recovery dashboard defines the Redemption Amount as the pool balance divided by outstanding supply, a ratio that rises only when fresh deposits land and stays flat when tokens are redeemed, since redemption removes cash and burns DFX in the same proportion.

Selling DFX on a secondary market such as Raydium is a separate transaction from redeeming it against the pool. A transfer changes who holds the claim but does not touch the pool balance or the per-token ratio.

The exploit adds to a run of 2026 DeFi security incidents that have pushed other protocols toward tighter controls, including Arbitrum’s Security Council halt on new Stylus contracts over attack risk. Drift’s design instead focuses on compensation mechanics after the fact, with the pool funded daily at 00:00 UTC from Velocity’s net protocol revenue and any recovered stolen funds.

Tether Backs $150 Million Plan as Drift Shifts to USDT Settlement

Tether announced in April 2026 a support plan including up to $127.5 million from Tether itself and up to $20 million from strategic partners, to support Drift’s relaunch after $285 million in user losses.

Tether’s role in the digital assets ecosystem is to provide a platform for individuals and institutions alike that is ready to step forward to help the industry in the moment of darkness. This collaboration reflects our confidence in Drift and its role in the DeFi ecosystem.

Paolo Ardoino, CEO of Tether

Tether framed the capital as revenue-linked rather than upfront, tying user recovery to Drift’s actual trading activity rather than a single transfer, and pointed to more than $800 million it has recovered working with over 310 law enforcement agencies across 64 countries. As part of the relaunch, Drift moved its settlement asset from USDC to USDT, bringing more than 128,000 users and over 35 ecosystem teams, including Gauntlet, Neutral and M1, onto USDT-based trading, a shift that parallels other issuers expanding Solana rails such as Open Standard’s recent OUSD stablecoin launch.

In practice, the $127.5 million figure is a commitment ceiling rather than cash already in the pool. Drift’s April recovery framework described a package combining a revenue-linked credit facility, an ecosystem grant and market-maker loans, which can fund a relaunch without putting the headline amount directly in DFX holders’ hands. Against prior exchange hack recoveries built on a single insurance payout, Drift’s model ties every dollar of outside backing to daily revenue splits, leaving unresolved how long it will take the pool to approach the $285 million victims are owed.

DFX Claim Window Runs to January 1, 2028

Drift’s terms set the claim deadline at 00:00 UTC on January 1, 2028, nearly 27 months after the October 1 launch. Any DFX left unclaimed when the window closes will be permanently burned, shrinking supply and raising the redemption ratio for everyone still holding.

Insurance Fund claims run on separate terms and are not part of DFX, according to the dashboard. That split matters for institutional claims teams reconciling which recovery track applies to which exposure.

The CCS read. DFX effectively converts hack victims into revenue-share creditors of Velocity rather than claimants in a fixed settlement, which is a meaningfully different risk profile for any treasury modeling DeFi counterparty exposure. Holders who redeem early lock in roughly one cent on the dollar; those who hold are betting on trading volume they cannot control, with no guarantee the pool ever approaches $285 million.

Whether Velocity’s daily revenue ever closes the gap between the $150 million committed and the $285 million lost remains an open question that only trade-by-trade deposits into the Recovery Pool, visible on Drift’s dashboard, will answer before the January 1, 2028 claim deadline.

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Bank of North Dakota launches Roughrider Coin stablecoin on Solana
Institutional

Bank of North Dakota launches Roughrider Coin stablecoin on Solana

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InstitutionalCrypto Coin Show News Team·October 2, 2026·3 min read

Fiserv’s stablecoin infrastructure is now live with a financial institution client for the first time, powering Bank of North Dakota’s new Roughrider Coin on Solana. For institutional investors, the launch shows a regulated state bank moving straight to production issuance on a public blockchain, ahead of final Federal Reserve rules for payment stablecoins.

  • Roughrider Coin settles on Solana and is available to more than 90 banks and credit unions across North Dakota.
  • VersaBank issues the token and handles custody, including minting, burning and reserve management, while Fireblocks supplies the tokenization layer.
  • The Federal Reserve’s GENIUS Act reserve proposal remains open for public comment for 60 days after Federal Register publication.
  • 90+ banks and credit unions in North Dakota now have access
  • 56% of surveyed Americans had never heard of stablecoins, per Visa
  • 45% said they would use one offered by their existing bank

Fiserv, the Milwaukee-based payments processor whose software runs online banking for thousands of U.S. financial institutions, said Thursday (October 1) that its digital asset platform is live with bank clients, and that Bank of North Dakota’s Roughrider Coin is the first product running on it. The dollar-backed stablecoin settles on Solana, a high-throughput blockchain more commonly associated with retail trading than interbank settlement, and gives more than 90 banks and credit unions across the state a new rail for moving money between each other. The deployment, first reported by CryptoPotato, pairs a state-owned bank founded in 1919 with infrastructure built for crypto-native exchanges.

VersaBank Mints and Custodies the Token, Fireblocks Tokenizes It

Participating institutions reach Roughrider Coin through Commercial Center, the same commercial online banking system many Fiserv clients already use for traditional interbank transfers. There is no separate crypto interface for participating banks to learn.

VersaBank, a federally regulated bank, issues the token and handles custody, a role that covers minting, burning and managing the reserve assets backing each coin in circulation. Fireblocks, a digital-asset infrastructure provider used widely by banks and exchanges for custody and tokenization, supplies the technology layer underneath, while transactions themselves settle on Solana.

Bank of North Dakota chief executive Don Morgan framed the launch as an upgrade to existing interbank plumbing rather than a consumer crypto product.

a new tool to move money more efficiently across North Dakota’s interbank network.

Don Morgan, CEO, Bank of North Dakota

VersaBank founder and president David Taylor said Fiserv’s scale paired with his firm’s regulated capabilities gives stablecoins a trusted foundation inside established banking systems. Sunil Sachdev, Fiserv’s head of embedded finance and digital assets, said in the company’s announcement that the platform helps clients unlock new efficiencies in banking and payments while keeping the security and regulatory standards they expect.

Fiserv Platform Also Targets Cross-Border Payments and Card Issuance

Roughrider Coin is one application of a broader Fiserv platform that also supports stablecoin card issuance, cross-border payments, programmable commerce and treasury automation for banks, corporates and fintechs. It additionally covers tokenized deposits and global currency account services, including dollar accounts for financial institutions outside the U.S. The bet mirrors a wider push to put stablecoins directly on Solana, following moves such as Open Standard’s launch of the OUSD stablecoin on the same network earlier this year.

Fed’s GENIUS Act Rules Face 60-Day Comment Window

The launch arrives as regulators work out how bank-issued stablecoins should be backed and supervised. The Federal Reserve proposed two rules under the GENIUS Act: one requiring Fed-supervised issuers to fully back tokens with approved reserves such as short-term Treasury bills, and another covering applications from supervised banks that want to issue payment stablecoins, with comments accepted for 60 days after Federal Register publication. The custody question sits alongside other recent regulatory moves, including the SEC’s proposed crypto custody rule for investment advisers and the CFTC’s new FAQs on tokenized investments and recordkeeping.

Consumer awareness remains a separate hurdle. Visa’s Money Travels 2026 study found 56% of surveyed Americans had never heard of stablecoins, yet 45% said they would use one if offered by an existing financial provider, versus 36% in a scenario without bank-level fraud protection and deposit insurance.

The CCS read. This is less a Solana adoption story than a VersaBank business-model story. A small federally regulated bank is positioning itself as the custody and issuance layer for state-level stablecoin programs, a niche that scales well beyond North Dakota if other states follow and could matter more to VersaBank’s balance sheet than to Solana’s transaction volume.

The Fed has not announced when its GENIUS Act comment period closes or when final reserve and issuance rules will take effect, leaving VersaBank, Fiserv and Bank of North Dakota operating under proposed rather than finalized federal standards while Roughrider Coin scales across the state’s banking network.

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trendtraderpro-Emerald token burn rally
Agentic Finance

TrendTrader Pro wants half of a $1M fund’s profits to buy and burn its token

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Crypto Coin Show
Exclusive / Trading

Exclusive | 2 October 2026

TrendTrader Pro wants half of a $1M fund’s profits to buy and burn its token

Nick Nechanicky has built and sold two trading companies. His third sells trend signals across more than 1,000 markets, and plans to spend half of a new fund’s profits buying and burning its Solana token.

$1M
Raised for Fund A, the trading fund behind the TTP buyback
50%
Of Fund A profit above the original $1M, earmarked to buy and burn TTP
1,000+
Markets tracked by the TrendTrader Pro algorithm
1B
TTP supply, with mint authority revoked

Nick Nechanicky has spent more than a decade around the machinery that moves prices, and he does not buy the idea that charts are random. “It’s not random. It’s by design,” says the Founder and CEO of TrendTrader Pro, describing the sudden wicks and stop hunts that traders blame on bad luck. He argues they are the visible edge of market makers following a playbook. He has now built a signals platform around that view, and a token with a trading fund behind it.

TrendTrader Pro is software, not a trading bot. Its algorithm tracks more than 1,000 markets, including forex, crypto, stocks, indices, ETFs and commodities, and shows where each asset sits on a long-term trend and on an intraday trend. It never places an order. “You’re still trading yourself,” Nechanicky confirms, because he did not want an algorithm executing on a user’s behalf and would rather put his effort into the signal engine than into brokerage plumbing. Users trade through whichever broker they already use.

The productSignals that wait for confirmation

The pitch is deliberately unglamorous. The algorithm waits for a first move to establish a trend, then flags it as bullish or bearish once its criteria are met. That means no sniper entries at the exact bottom, and Nechanicky says users should not expect them, or the tiny stop losses that come with them. It is the trade-off for entering just after the first push instead of guessing the turn.

He sees the product as a complement to a trader’s own method rather than a replacement. Experienced traders, he says, tend to drift away from trading with the trend as they advance, and eventually get burned for it. Many of the platform’s users simply layer the signals on top of a strategy they already run.

“Instead of trying to predict the market, why not let it show you what it’s doing?”

Nick Nechanicky, Founder and CEO, TrendTrader Pro

The operatorTwo exits and a view from the other side of the book

Nechanicky began trading forex straight out of high school more than a decade ago, and built indicators and charting tools back when that was a scarce skill. His first company, Tradiso, was a multi-asset brokerage that worked with prime brokers, market makers and liquidity providers, and was among the first brokers to offer leveraged stock trading on MetaTrader platforms, he says. Tradiso had reached $2.8 billion in trading volume when it was acquired in 2022. Running a broker meant managing risk and hedging client trades, which gave him a close look at how liquidity providers behave.

His second company, DexToro, was a crypto trading app on Solana, which he describes as Robinhood run fully on-chain. It launched a utility token, and Nechanicky says the token brought in 10 times more users than six figures of paid advertising and influencer spend combined, which is what led to the acquisition. Both accounts are his own, and the acquirers were not named in the interview.

The tokenA fair launch, announced after the fact

TTP launched on Solana on 24 September 2026 with a fixed supply of one billion tokens, no presale and no team or investor allocation, according to the company’s token page. Mint authority is revoked and the liquidity pool tokens are burned, so no new TTP can be issued. Nechanicky says anyone can check the setup on-chain.

The lesson he took from DexToro’s launch was how to avoid snipers, the bots that watch launchpads and soak up a large share of supply the moment a token appears. DexToro was a fair launch that reached a market cap of roughly $11 million to $12 million, he says, but snipers had accumulated a large share by then. For TTP the team announced nothing: no posts, and no mention on the website for hours.

“The best way is to really just launch it and not tweet about it, not put it on the website for a couple hours. Don’t make anything known at all.”

Nick Nechanicky, Founder and CEO, TrendTrader Pro

Solana was an easy call, he says. Most on-chain value still sits there, and he points to Coinbase adding discovery of Pump.fun tokens inside its app this July as a reason no rival chain could match its reach for a new launch.

Fund AHow the buyback is meant to work

The token’s utility is a trading fund. TrendTrader Pro says it has closed a raise of $1 million for Fund A, money Nechanicky says came from investors in the private futures fund he already manages and from a few DexToro backers. Once the fund is trading, profit above the original $1 million is meant to be split: 50% used to buy TTP on the open market and burn it, and 50% left in the account to compound. He also describes building a company treasury of TTP over time and working out what to do with the retained half.

What he stresses most is what the fund is not. The buyback is not paid out of TrendTrader Pro’s subscription revenue, which stays inside the business.

“The buyback and burn isn’t coming from our subscription revenue, which is our core revenue for Trend Trader Pro. It’s simply coming from new profits from a fund that’s dedicated only to TTP.”

Nick Nechanicky, Founder and CEO, TrendTrader Pro

He argues the structure avoids two familiar weaknesses in token design: a company draining its core revenue into its own token, or minting new tokens to pay staking yield, which he says he is “totally against.”

The caveats are real, and the interview was candid about them. When we spoke, Fund A had not started trading. Nechanicky expected the details to be finalised within two to three weeks, including whether to trade on-chain or through traditional futures brokers. The platform’s performance record also comes from a backtest rather than live trading: TrendTrader Pro’s website cites a 2020 to 2026 test in which $100,000 grew to $1,038,260.96. Nechanicky says running it across more than 1,000 markets kept a computer busy for about a week. The buyback only works if the fund makes money. A separate Fund B for TTP holders is planned, but its terms are not final, and the company says holding TTP gives no equity and no automatic share of profits.

Fund A and TTP at a glance
ItemAs described
Capital raised$1M
Fund status at interviewNot yet trading
Profit policy, above the first $1M50% buy and burn, 50% retained
Source of buybackFund profit, not subscriptions
TTP supply1B, mint revoked
Fund B (TTP holders)Planned, terms not final

What to watchThe fund first, listings after

The immediate priority is getting Fund A trading and making sure everything works. After that, Nechanicky says, a public API for TrendTrader Pro, currently private, would let users plug the signals into their own algorithms and AI tools. Bigger exchange listings come later. He says a tier one listing needs a market maker, a real budget and volume requirements, but it opens the door to funds that will not touch a token without one.

For now the claim is easy to state and not yet proven: a fund that had not placed its first trade when we spoke, and a token whose buybacks depend on it. The first answers will be public.

This feature is based on an exclusive interview conducted by CCS with Nick Nechanicky, Founder and CEO, at TrendTrader Pro, on 30 September 2026.

Watch the full interview TrendTrader Pro hub $TTP price page Nick Nechanicky
About TrendTrader Pro

TrendTrader Pro is a trading signals platform that says it follows the market maker cycle across more than 1,000 markets, including forex, crypto, stocks, indices, ETFs and commodities. It provides signals and charting and does not execute trades. Its Solana token, TTP, launched on 24 September 2026. Learn more at trendtrader.pro.

Past performance does not guarantee future results. Crypto assets are volatile and nothing here is financial advice.

Sponsored feature. TrendTrader Pro is a Crypto Coin Show client. CCS kept editorial control. Not financial advice.

Crypto Coin Show Trading / Exclusive
Solana Foundation logo
Blockchain

Open Standard launches OUSD stablecoin on Solana

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SolanaCrypto Coin Show News Team·September 30, 2026·2 min read

Open Standard’s dollar stablecoin, OUSD, is now live on Solana. Coinbase, Mastercard, Shopify, Stripe and Visa signed on as founding partners with equal stakes and have committed more than $1 billion to seed its liquidity.

  • OUSD mints and burns 1:1 for dollars at no cost, per the release
  • Reserves sit at BlackRock, Lead Bank and BNY with monthly attestations
  • More than 200 companies, including UBS, SBI Holdings and Jeeves, plan to integrate it
  • $1B+ committed by five founding partners to OUSD liquidity
  • $17.4B total Solana stablecoin supply, up 18.8% year over year
  • $0.0013 median Solana transaction fee cited in the release

OUSD is a dollar-pegged stablecoin meant for corporate payments, settlement and treasury balances rather than retail trading. It is issued by Bridge and now lives on Solana as its home network, according to the release from Open Standard.

No Wrapped Version

The release is explicit that OUSD has no wrapped counterpart on Solana. “A dollar of OUSD on Solana is the instrument itself,” the document states, meaning there is no proxy token and no separate liquidity pool to reconcile.

The mint address is ousd2mJsPEckLHcSCDxyKD7NDGARZcfLbDZkKiatYHB, and the token runs on Token-2022, the standard Solana says PayPal, Fiserv and Western Union already use for regulated stablecoins.

Token-2022 And Confidential Transfers

Token-2022 supports extensions such as confidential transfers built into the protocol rather than bolted on through a separate contract. That is the mechanism the release points to when it argues OUSD inherits existing enterprise plumbing rather than building new rails.

The document does not specify which of the 200-plus companies planning to integrate OUSD have signed binding agreements versus expressed intent, nor does it give a total OUSD supply issued at launch.

Five Partners, One Network

Coinbase, Mastercard, Shopify, Stripe and Visa each took an equal initial stake as founding partners. Stripe’s presence is notable given that Bridge, the issuer of OUSD, is the stablecoin infrastructure firm Stripe acquired in 2024, putting one founding partner on both sides of the cap table.

Jamal Raees’ quote in the release attributes Solana’s stablecoin activity this year to more than $5 trillion in volume processed, and cites Western Union, Visa, PayPal and Fiserv as enterprises already running payment products on the network.

“A stablecoin is only as useful as the counterparties it can settle with. That is why every major stablecoin launch is happening on Solana: issuers understand it is where liquidity, neutrality, and ecosystem depth live.”

Jamal Raees, General Manager of Payments, Solana Foundation

What The Fee Number Buys

The release puts Solana’s median transaction fee at roughly $0.0013 and argues that cost structure makes a $3 payout worth sending and per-transaction rebates worth calculating. It names card settlement, foreign exchange and cross-border payments as the volume businesses where per-transaction cost decides what is viable.

That framing is the Foundation’s, attached to a launch it is promoting; the document does not disclose Open Standard’s own fee schedule for institutional redemption, nor any minimum ticket size for direct minting with Bridge.

The CCS read. Native issuance without a wrapped layer removes a genuine credit-memo headache for treasury desks, and Stripe sitting on both the issuer’s parent and the founding-partner list shows how concentrated this stablecoin’s early distribution actually is. Watch whether the other 200 named integrators convert into live settlement volume or stay logos on a press release.

Bridge’s first monthly reserve attestation for OUSD is the next checkpoint to watch.

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Solana’s transaction ordering proposal stalls without client approvals needed to merge
Blockchain

Solana’s transaction ordering proposal stalls without client approvals needed to merge

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BlockchainCrypto Coin Show News Team·September 27, 2026·4 min read

Solana’s SIMD-0649 proposal, which would have forced block producers to record transactions in strict fee-priority order within each entry batch, closed on Sept. 25 without merging, leaving leaders free to pick which trades enter a block and when a batch ends. For market makers and high-frequency desks routing volume through Solana, the stalled fix means execution order remains a matter of validator discretion rather than a code-enforced, auditable queue.

  • The SIMD-0649 pull request closed Sept. 25 pending more client-developer approvals, per the GitHub thread.
  • The draft requires every non-final entry batch to span at least two forward error correction sets, or 64 data shreds.
  • A Sept. 23 reviewer argued a leader could still close a batch strategically to separate conflicting transactions, undercutting the rule.
  • Sept. 25 date SIMD-0649 closed without merging into Solana’s codebase
  • 64 minimum data shreds required per non-final entry batch
  • 2 FEC sets Agave and Firedancer already target per batch today

The proposal would not decide which transactions a block producer, known as the leader, chooses to include. It would only make the order of transactions inside a completed batch inspectable and enforceable against a fee-based priority score. A validator replaying the block would compare recorded priorities and reject the block as invalid if a non-exempt transaction appeared out of sequence.

SIMD-0649 Needs More Acks From Anza and Firedancer

The pull request required at least one approval from an Anza team member and one from a Firedancer developer. Neither threshold was met by Sept. 25, and the author closed the request “pending more discussion” and asked for “more ACKs by client devs,” according to the document.

The draft grew out of an August discussion on Solana’s GitHub. That thread turned informal debate into a formal specification defining priority as the leader’s reward per unit of requested execution cost.

The reward calculation folds in both the priority fee a user names and the unburned portion of the base fee, using an integer formula with a multiplier and a one-unit guard in the denominator. That makes the enforceable score narrower than a simple fee ranking, and it means the same replay math must produce identical results across every client.

Leaders Retain Full Discretion Over Batch Boundaries

The proposal’s stated non-goals leave leaders free to select which transactions to include, defer any transaction to a later batch, and choose where one batch ends and the next begins. A high-priority transaction placed in a later batch would not be moved ahead of a lower-priority one sitting in an earlier batch, even though its score is higher.

Within-batch ordering is therefore narrower than slot-wide ordering or any guarantee of best execution.

SIMD-0649 also does nothing to stop a leader from paying priority fees to itself. The document confirms those fees return to the leader while only the burned share of the base fee is a real cost, so the rule cannot be read as protection against preferential treatment, MEV or slippage.

The two-FEC-set minimum, or 64 data shreds, targets the most obvious workaround: shrinking batches until there is nothing left to compare.

But the Sept. 23 reviewer noted that a leader “could still close a batch when it was advantageous to separate conflicting transactions,” and asked the author for present-day batch-size data broken down by scheduler, client and market conditions, plus a sensitivity test for alternate minimums.

The document says Agave and Firedancer already target roughly two FEC sets per batch, but neither the proposal nor the review supplies a measured distribution showing how often real batches fall short of that today, leaving the rule’s practical bite unquantified. That gap is the material open question the record does not resolve.

Firedancer’s Partial-Data Replay Raises a Latency Trade-Off

The August discussion flagged a separate concern: a validity check that had to wait for a whole batch could interfere with Firedancer’s practice of replaying data as it arrives. The revised draft lets validators compare and execute transactions as received, then invalidate the block later if a comparison fails, avoiding a hard stall.

The document also concedes that forcing a leader to reach the two-FEC-set minimum could add broadcast delay when throughput is low. Neither the discussion nor the pull request measures how large that delay would be.

The CCS read. The unresolved question here is not fairness on paper but who bears execution risk in practice. Institutional desks trading Solana perpetuals or spot pairs still cannot treat batch placement as neutral, since a leader can defer or split transactions before any ordering check applies. Until someone publishes batch-size data across schedulers, order-routing risk on Solana stays a discretionary cost, not a measured one, a gap regulators tracking market structure may eventually probe.

The pull request remains closed, and the author has signaled it will return only once more Anza and Firedancer developers register approval on the underlying draft specification. Whether a revised version ships with the requested batch-size distribution is the next thing to watch in Solana’s client-developer discussions.

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Ondo expands USDY yield token across Solana DeFi protocols as productive collateral
DeFi

Ondo expands USDY yield token across Solana DeFi protocols as productive collateral

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DeFiCrypto Coin Show News Team·September 24, 2026·3 min read

Ondo Finance is embedding its yield-bearing Treasury token USDY deeper into Solana’s DeFi ecosystem, signaling a broader shift toward measuring tokenized real-world assets by their utility and composability rather than issuance volume alone. The expansion tests whether regulated, yield-bearing instruments can circulate as productive collateral across decentralized venues without sacrificing compliance or redemption integrity.

  • USDY is a yield-bearing tokenized note backed by US Treasuries and bank deposits, not a fixed-value stablecoin like USDC or USDT
  • Ondo is expanding USDY across Solana lending, liquidity and trading venues to enable productive collateral use rather than passive holdings
  • Solana’s low-cost settlement and active DeFi ecosystem are attracting tokenized real-world assets, though liquidity depth during redemptions remains unresolved
  • USDY yield-bearing Treasury-backed token expanding across Solana DeFi venues for productive collateral use
  • Solana emerging as RWA distribution layer due to low transaction costs and fast settlement
  • Compliance and redemption structure preservation while increasing onchain composability for regulated assets

Ondo Finance is pushing its USDY tokenized yield product deeper into Solana’s decentralized finance ecosystem, according to reporting on the integration. The move signals a strategic shift: institutional tokenized assets are now being measured on utility, their ability to function as productive collateral across DeFi protocols, rather than on issuance volume alone. USDY differs fundamentally from conventional stablecoins; it represents exposure to short-term US Treasuries and bank deposits while accruing yield, making it a yield-bearing tokenized note rather than a fixed-value instrument pegged to the dollar.

USDY Designed to Generate Yield While Functioning as DeFi Collateral

USDY’s structural distinction matters for institutional deployment. Unlike USDC or USDT, which aim to maintain a stable $1 redemption value, USDY is intended to accrue yield over time while retaining that underlying exposure.

As the token integrates with Solana lending markets, liquidity pools and trading venues, holders can deploy it as productive collateral while preserving exposure to the yield profile of the underlying Treasury and deposit assets. That layering, combining regulated asset yield with DeFi composability, represents an important maturation step for the tokenized real-world assets category.

Ondo’s strategy is to make Treasury-linked products circulate through the same workflows as crypto-native collateral, where they can capture value across DeFi rather than remaining dormant in institutional wallets.

Solana Emerges as Primary RWA Distribution Layer on Low-Cost Settlement

Solana’s appeal for tokenized assets is rooted in economics. Fast settlement times, low transaction costs and an established DeFi ecosystem create conditions where institutional-grade assets can actually circulate onchain instead of sitting isolated. That efficiency advantage is crucial for products like USDY, which require regular redemptions and deep liquidity to function as collateral.

The technical challenge is different: preserving the compliance and redemption structure of a regulated asset while making it composable enough for DeFi workflows.

Ondo has been building toward this bridge systematically, expanding into tokenized equities and establishing new institutional minting routes. Bringing USDY into more Solana applications extends that same approach to yield-bearing dollar assets. For Solana’s DeFi protocols, the opportunity is to broaden their collateral options.

A lending market accepting a yield-bearing Treasury-linked token can offer users lower-volatility building blocks alongside SOL and crypto-native stablecoins, enabling new product construction for users seeking onchain liquidity without full exposure to volatile token price movements.

Maintaining Liquidity Depth During Redemptions Remains the Critical Test

The harder operational challenge is sustaining liquidity deep enough to preserve utility during redemptions and periods of market stress.

Integrating a regulated, yield-bearing instrument into multiple DeFi protocols works only if the underlying token remains sufficiently liquid to absorb redemptions without significant slippage. That liquidity requirement differs from pure trading volumes; it demands depth across venues and consistent availability during both normal operation and market dislocations.

The real test emerges in stress conditions, when collateral withdrawal demand typically spikes and liquidity can evaporate.

The CCS read. We see institutional tokenized assets shifting from a volume play to a utility one, which means the next winners will be those proving their products function across multiple DeFi venues without bleeding liquidity. For Solana, this validates its role as an RWA settlement layer, but it also highlights that yield-bearing Treasury tokens will compete directly with tokenized stocks and other regulated instruments arriving in DeFi, not just stablecoins.

Watch whether USDY maintains depth across Solana’s lending markets during the next period of redemption pressure or market volatility. The expansion only becomes sustainable if institutions can reliably use the token as collateral without worrying that liquidity will vanish when they need to exit.

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BlackRock says AI agents could become crypto’s next source of demand
Agentic Finance

BlackRock says AI agents could become crypto’s next source of demand

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AI NewsCrypto Coin Show News Team·September 23, 2026·5 min read

BlackRock’s digital assets research team has published a whitepaper arguing that autonomous AI agents, not traders or treasuries, could be the next structural source of demand for stablecoins and blockchain settlement. The data on actual agent payments today is far thinner than the thesis, and the paper says so itself.

  • BlackRock’s “The Machine-Native Economy,” published in September 2026, frames AI as machine-native intelligence and digital assets as machine-native money.
  • The paper points to Coinbase’s x402 protocol and stablecoins as the payment layer for high-frequency, low-value machine-to-machine transactions, and to tokenized compute as a possible new asset class.
  • Real usage is still small: TRM Labs found that only 0.6% to 7.5% of $52.7 million in x402 settlements it examined likely came from AI agents.
  • $300B+ stablecoin market cap as of September 2026, per RWA.xyz data cited by BlackRock
  • $11T adjusted stablecoin transaction volume in 2025, per Visa/Allium data cited in the paper
  • $1.1T projected combined 2030 cloud revenue for AWS, Azure and Google Cloud

The world’s largest asset manager is making the case that crypto’s next demand wave will come from software rather than people. In “The Machine-Native Economy: How Digital Assets Connect Intelligence, Commerce, and Compute”, BlackRock head of digital assets research Will Su and head of digital assets Robert Mitchnick, writing with iShares colleagues Jay Jacobs and William Helm, argue that agentic AI systems that can act and pay on their own need a kind of money that card networks and bank rails were not built to provide. The paper was first reported by Decrypt.

BlackRock pitches stablecoins as the payment rail agents need

The core argument is about fit. An AI agent that buys a data feed, pays for an API call or rents GPU time may need to make thousands of tiny payments a day, around the clock, with no human approving each one. BlackRock notes that existing rails such as ACH and cards already support heavy automation, but says their onboarding requirements and settlement economics make them a poor match for always-on, very low-value transactions.

Stablecoins are the paper’s answer. BlackRock cites RWA.xyz data showing more than $300 billion in circulating stablecoins in September 2026, and Visa/Allium figures showing $11 trillion in adjusted stablecoin transaction volume in 2025. That volume grew at roughly 80% a year from 2020 to 2025, compared with about 8.5% a year for ACH, according to the paper. BlackRock adds a caveat worth keeping: the adjusted stablecoin figures filter out exchange flows, internal transfers and bot activity, so they are not directly comparable to traditional payment data. ACH still processed about $93 trillion in 2025.

Coinbase’s x402 sits at the center of the machine-payments thesis

The paper leans on x402, the open protocol developed by Coinbase that revives the web’s long-dormant HTTP 402 “Payment Required” status code. With x402, a server can ask for payment inside a normal web request, and a piece of software can pay in stablecoins, usually USDC, and receive the data or service immediately. No account, no card on file, no human in the loop.

BlackRock also points to big tech adoption. Amazon has added stablecoin payments to its AI cloud tooling through Coinbase and Stripe, and Google’s Agent2Agent framework supports cards, stablecoins and real-time bank transfers, with backing from Coinbase and the Ethereum Foundation. The x402 ecosystem has been widening on the crypto side too, with NEAR joining the x402 Foundation this week and Solana and Google launching Pay.sh earlier this year.

For native tokens, the paper is careful. It says activity on permissionless networks could drive demand for blockspace and validator services, but whether any of that value reaches a network’s token depends on its fee, staking and gas-sponsorship design. It names Ethereum and Circle’s Arc, where USDC is the native gas asset, as examples of the two ends of that spectrum.

Tokenized compute could be the bigger long-term market

The paper’s most ambitious section treats compute itself as a future digital asset. Sell-side consensus compiled by Bloomberg puts combined 2030 revenue for AWS, Microsoft’s Intelligent Cloud and Google Cloud at $1.1 trillion, and BlackRock cites Goldman Sachs estimates of more than $5 trillion in cumulative AI capital spending from 2025 to 2030.

“As agents become more capable and persistent, standardized claims on compute capacity could become a significant digital asset use case for financing and programmable settlement.”

BlackRock Digital Assets Research, The Machine-Native Economy

The idea is that agents could source, price and pay for compute directly, settled on-chain against standardized, tokenized claims on capacity. BlackRock flags real obstacles: chips differ by generation, energy costs vary by region, and there is no agreed standard yet for delivering or cash-settling capacity. It suggests commodity market tools such as basis markets and contracts for difference as a template.

On-chain data shows agent payments are still a sliver of activity

The gap between thesis and usage is wide. Blockchain analytics firm TRM Labs examined $52.7 million in x402 settlements in 2026 and estimated that only 0.6% to 7.5% of that traffic likely originated from AI agents. Most x402 volume today is still people and conventional software, not autonomous agents.

BlackRock does not hide this. The paper calls the ecosystem nascent, says agentic payment activity and compute-market liquidity remain limited, and describes machine-native payments as an area worth monitoring rather than a forecast. It also carries the standard disclaimer that it is not investment advice.

peaq brings machine identities onto Solana

The agent economy BlackRock describes is mostly software paying software. peaq is building the physical side of it, and this month it moved that work onto one of crypto’s most used chains. peaq launched its Economics 2.0 model on September 7, and the next day Wormhole Labs’ Sunrise gateway listed PEAQ on Solana as the canonical version of the token, according to Crypto Briefing. peaqOS then went live on Solana on September 16, letting robots and IoT devices activate directly on Solana, receive a verified on-chain identity and bond PEAQ.

Machine peaqID documents and NFTs now live on Solana, while subscription bonds stay on the peaq chain. Each machine builds a Machine Credit Rating from verified on-chain activity, which can later support financing. peaq says its network spans more than 6 million machines across 60-plus applications, with about 3.3 million positioned to bond PEAQ through the Sunrise integration and just over 240,000 activated by early September. Doosan Robotics deployed its first A-Series cobot on the system by September 17. The design is also a live test of the point BlackRock makes about token value: operators lock PEAQ as collateral to activate a machine, so demand for the token is tied to machines actually operating. It builds on peaq’s earlier move to bring World ID to robots.

“We’re still very early in the adoption of stablecoin payments by AI agents.”

Ashton Addison, CEO of Crypto Coin Show

Addison expects that to change quickly. “As the machine economy picks up over the next 12 months, we should see these numbers start growing exponentially,” he said. “With machine IDs moving onto Solana, the machine economy is reaching more mainstream blockchains, and that makes stablecoin payments much easier to adopt.”

The CCS read. The paper does not move markets on its own, but who wrote it matters. When BlackRock’s digital assets team, the same group behind the BUIDL tokenized Treasury fund, puts AI agents next to stablecoins and tokenized assets as a demand driver, it gives institutional allocators a framework for owning crypto that has nothing to do with speculation. The honest read is that this is an early, infrastructure-first story. The rails are being built by Coinbase, Google, Amazon and Stripe, while real agent volume is still measured in single-digit percentages of a $52.7 million sample. The value will likely accrue first to stablecoin issuers and the networks that settle their transfers, and only later, if at all, to tokens whose fee design captures that activity.

Watch the share of x402 and similar settlements that analytics firms can attribute to agents over the next few quarters. If that 0.6% to 7.5% range climbs meaningfully, BlackRock’s thesis moves from framework to measurable demand. Also watch for the first standardized compute contracts or tokenized capacity products from a major cloud or exchange partner.

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Solana deploys Alpenglow consensus upgrade to testnet ahead of mainnet launch
Blockchain

Solana deploys Alpenglow consensus upgrade to testnet ahead of mainnet launch

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BlockchainCrypto Coin Show News Team·September 23, 2026·2 min read

Solana has pushed its Alpenglow consensus overhaul onto testnet, a step toward cutting block finality by roughly 99% just as SOL trades near its strongest level since January. The upgrade’s public testing phase lands alongside a surge in tokenized real-world assets and trading volumes that now rival the New York Stock Exchange.

  • Alpenglow’s Votor phase targets block finality of about 150 milliseconds, down from roughly 12.8 seconds under TowerBFT.
  • Real-world assets on Solana reached about $4.6 billion in early September, up from the $4 billion first crossed in August.
  • Solana DEXs logged about 208 million trades the week ending September 13, edging past the New York Stock Exchange’s roughly 190 million.
  • 150ms Alpenglow’s target finality versus 12.8 seconds under TowerBFT
  • $4.6B Solana real-world-asset value versus $4B milestone in August
  • 208M weekly Solana DEX trades versus roughly 190M on the NYSE

Solana developer Anza confirmed this week that Alpenglow has begun deploying on testnet ahead of devnet and mainnet-beta releases. The move targets block finality of about 150 milliseconds, a steep drop from the 12.8 seconds validators need today. The timing coincides with SOL trading around $117 after touching almost $120 this week, its strongest level since late January.

Votor Cuts Solana’s Finality Wait by 99%

Alpenglow’s first phase, Votor, replaces the onchain vote transactions validators currently submit with votes sent directly between validators. Those votes combine into certificates capable of finalizing a block within one or two voting rounds, cutting the wait for an irreversible transaction by roughly 99% against the current baseline.

The upgrade leaves the Solana Virtual Machine, transactions, programs and fees untouched. Only the consensus layer changes.

The rollout follows months of preparation among validators and infrastructure providers, many of which had to adjust systems that stream blocks, track votes or depend on Solana’s existing commitment structure. A second component, Rotor, will later replace Turbine, the network’s block-data distribution system, though Solana has scheduled that separately according to the Alpenglow upgrade page, keeping Votor the immediate focus of testnet.

The consensus rework follows other throughput upgrades. Solana activated Transaction V1 this month, raising maximum transaction size to 4,096 bytes from 1,232, while its slot-time roadmap continues trimming target block times from 400 milliseconds toward 200 milliseconds.

SOL Nears $120 as Nasdaq Gap Narrows to 47 Million Trades

SOL has gained roughly 25% over the past month, CryptoSlate’s data shows, pushing the token back toward the roughly $120 level it last touched in late January. Network activity has expanded alongside the price move.

Real-world assets on Solana reached about $4.6 billion in early September, extending a climb that pushed the sector past $4 billion for the first time in August. Trading has kept pace: Solana decentralized exchanges recorded about 208 million spot trades in the week ending September 13, according to data cited by the Kobeissi Letter, narrowly topping the roughly 190 million trades executed on the New York Stock Exchange over the same span and narrowing the gap with Nasdaq to about 47 million trades. Jupiter, Solana’s largest aggregator, accounted for more than 80 million trades during September, up 38% from the prior month.

Multicoin’s Samani Bets SOL Overtakes Ether This Cycle

Multicoin Capital co-founder Kyle Samani has said he expects SOL’s market capitalization to surpass Ethereum’s before the current cycle ends, pointing to developers migrating toward Solana and its recent lead over Ethereum in network fees. The gap remains wide: Samani’s own comparison put Solana’s market cap near $58 billion against roughly $293

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