Crypto Exchange Blulish has established a partnership with the Solana Foundation to make Solana-Native Stablecoins the backbone of its trading and clearing operations.
In collaboration, the two will work with Stablecoins established by Solana on institutional-level financial infrastructure as the main railway for custody, payments and settlements of Bullish’s Ecosystem.
The bullish exchange cleared more than $2.3 billion in average daily volumes, owned by the bullish group, which is also a parent of Coindesk.
The move highlights a shared driving force to build faster and cheaper infrastructure to consolidate traditional and decentralized finances.
“We are delighted to work with the Solana Foundation,” bullish CEO Tom Farley said in a press release shared with Coindesk. “Solana has proven itself to be the railroad track for the next generation of financial infrastructure – fast, efficient and ready for institutional size.”
The collaboration is because Stablecoins has had a moment in the cryptocurrency market, a key tool for payments and a growing demand for low-cost, reliable digital dollar transactions. Currently, Stablecoins has a total market value of $255.5 billion and Solana Stablecoin has a market value of $10.9 billion, making it one of them The first three Stablecoin blockchains According to Defilama data, based on market value.
Solana’s speed and low fees have helped Attract a wave of new developers who are building projects This benefits from rapid termination and scalability such as stability, defi network or Symbolization of real-world assets.
“Solana has built such moments where performance, scale and reality adoption merged,” Lily Liu, chairman of the Solana Foundation, said in a press release.
Read more: The main trade fee agency seeks tokenization work for Solana
