Fidelity, a financial services company, has added Solana trading to its platform, making the network’s native token available to both institutional and retail clients.
Solana (SOL) is now available to buy, sell, and trade on Fidelity Crypto, Fidelity Crypto for IRAs, Fidelity Crypto for Wealth Managers, and Fidelity Digital Assets’ platform for institutional investors, a spokesperson confirmed to Cointelegraph on Thursday. The spokesperson added:
« The addition of Solana is a continuation of Fidelity’s decade-plus effort to develop the infrastructure, products, and educational resources for digital assets consistent with the solutions we provide for traditional asset classes. »
The added support for SOL signals that cryptocurrencies are maturing as an asset class, further reducing the gap between legacy and digital finance.
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Solana wants to rival Wall Street by becoming the home of internet capital markets
SOL has a market capitalization of over $104 billion and is the sixth-largest crypto by market capitalization as of this writing, according to CoinMarketCap.
Key developers within the Solana community say the network still has room for significant growth and aim to make it the home of internet capital markets, rivaling Wall Street.
Solana developers want the blockchain to host tokenized real-world assets (RWAs), including stocks, money market funds, stablecoins, and collectibles, thereby democratizing access to finance and unlocking liquidity trapped in traditionally illiquid asset classes.
Crosschain 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 these tokenized RWAs on Solana could make the network a central piece of decentralized finance (DeFi) infrastructure, allowing traders access to deeper stablecoin liquidity and reducing the chance of high volatility, depegging, and trade slippage.
In September, regulators in the United States signaled their intent to overhaul the legacy financial system, which closes on nights, weekends, and holidays, pivoting to a 24/7 trading schedule.
“Further expanding trading hours could better align US markets with the evolving reality of a global, always-on economy,” spokespeople for the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission said in a joint statement.
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