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By Margaux Nijkerk, AI Boost|Edited by Aoyon Ashraf
Updated Jul 9, 2025, 2:33âŻp.m. Published Jul 9, 2025, 1:00âŻp.m.
- Crypto exchange Bullish has teamed up with the Solana Foundation to use Solana-native stablecoins for its trading and clearing operations.
- The collaboration aims to develop institutional-grade financial infrastructure using Solana stablecoins for custody, payments, and settlements.
- Solana’s speed and low fees have made it a popular choice for developers and financial institutions seeking scalable blockchain solutions.
Crypto exchange Bullish has teamed up with the Solana Foundation, aiming to make Solana-native stablecoins the backbone of its trading and clearing operations.
Under the collaboration, the two will work on institutional-grade financial infrastructure with stablecoins built on Solana to serve as the primary rails for custody, payments, and settlements across Bullishâs ecosystem, the companies announced Wednesday.
STORY CONTINUES BELOW
The Bullish Exchange, which clears over $2.3 billion in average daily volume, is owned by the Bullish Group, which is also the parent of CoinDesk.
The move underscores a shared push to build faster, cheaper infrastructure that merges traditional and decentralized finance.
âWeâre excited to collaborate with the Solana Foundation,â said Tom Farley, the CEO of Bullish, in a press release shared with CoinDesk. âSolana has proven itself as rails for next-generation financial infrastructureâfast, efficient, and ready for institutional scale.â
The collaboration comes as stablecoins are having a moment in crypto markets, emerging as key tools for payments and trading amid growing demand for low-cost, reliable digital dollars. Currently, the total market cap of stablecoins stands at $255.5 billion, with Solana stablecoin market cap at $10.9 billion, making it one of the top three stablecoin blockchains based on market cap, according to DeFiLlama data.
Solanaâs speed and low fees have helped it attract a wave of new developers who are building projects that benefit from quick finality and scalability, like stablecoins, DeFi networks, or tokenization of real-world assets.
âSolana was built for moments like thisâwhere performance, scale, and real-world adoption converge,â said Lily Liu, the President of the Solana Foundation, in the press release.
Read more: Major TradFi Institutions to Pursue Tokenization Efforts on Solana
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Margaux is CoinDesk’s Tech & Protocols reporter, where she focuses mostly on the Ethereum and Solana ecosystems. A graduate of Johns Hopkins and Emory universities, she has a masters in International Affairs & Economics. She holds BTC and ETH above CoinDesk’s disclosure threshold of $1,000.
âAI Boostâ indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy.
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