Solana launches platform for banks, payments groups

Solana Foundation has launched the Solana Developer Platform for enterprises and financial institutions building financial products on the Solana blockchain.

The service brings together infrastructure from across the Solana ecosystem in a single API-based interface. It is designed to help businesses issue digital assets, manage payments and support trading-related financial flows without having to build each layer of blockchain infrastructure themselves.

At launch, two of the platform's three main modules are live: issuance and payments. The issuance module supports products such as tokenised deposits, stablecoins and tokenised real-world assets. The payments module covers fiat and stablecoin flows, including on-ramp, off-ramp and on-chain transfers.

A third module focused on trading is due later in 2026. It will support functions including atomic swaps, vaults and foreign exchange activity carried out on-chain.

Early users include Mastercard, Worldpay and Western Union, underscoring Solana's effort to position the platform around mainstream payments, settlement and cross-border money movement rather than retail crypto trading.

Catherine Gu, Head of Product, Digital Assets, at Solana Foundation, said the service is intended to lower barriers for institutions that want to build on the network.

"Solana Developer Platform provides an easy gateway for any financial institution to build on Solana from day one. It is entirely API-based, removing the technical and operational barriers that enterprise developers may encounter. SDP aggregates the latest protocol features on the Solana network, such as token extensions for permissioning and privacy, and directly connects with Solana's rich developer ecosystem. At launch, we have over 20 different infrastructure partners integrated, and the early interest we've seen from enterprises and institutions signals strong demand," Gu said.

Partner network

The platform includes more than 20 infrastructure partners across four categories: node infrastructure, wallets, compliance and ramps. Node infrastructure providers include Alchemy, Helius, QuickNode and Triton. Wallet and custody providers include Anchorage Digital, BitGo, Coinbase, Fireblocks and Paxos, among others.

Integrated compliance providers include Chainalysis, Elliptic, Range and TRM. Payment ramp providers include Bridge, BVNK, Lightspark, Modern Treasury and MoonPay.

By grouping these services into one API-led product, Solana is aiming to simplify adoption for businesses that might otherwise need multiple vendors to launch regulated financial products. The platform is initially available in a sandbox built on Solana devnet, giving developers a test environment before production deployment.

It can also be used with AI coding tools, including Claude Code from Anthropic and Codex from OpenAI, aligning the service with a broader shift towards software development workflows that use AI assistants to build and test integrations.

Payments focus

The clearest near-term use cases appear to be in payments and settlement. Mastercard is using the platform to help enable stablecoin settlement for customers on selected blockchain networks, starting with Solana.

"The next phase of digital asset innovation will be defined by practical use cases that integrate seamlessly with existing financial systems. As an early user of Solana Developer Platform, we're helping enable direct stablecoin settlement for customers on select blockchain networks - beginning with Solana - combining the speed and programmability of blockchain with the reliability, security and global reach of the Mastercard network," said Raj Dhamodharan, Executive Vice President, Blockchain & Digital Assets, Mastercard.

Western Union described its use of the platform as an extension of its existing cross-border payments network.

"Solana Developer Platform lets us extend what Western Union already does best-moving money reliably across borders-by adding an API-driven, on-chain layer that can orchestrate fiat and stablecoin flows end-to-end. It's not a replacement for our network; it's a modern extension that helps us innovate faster, expand new use cases, and bring more cross-border activity on-chain in a scalable, compliant way," said Malcolm Clarke, VP Digital Assets, Western Union.

Worldpay highlighted merchant settlement and tokenised assets as its main areas of interest.

"By leveraging SDP's payments and issuance modules, Worldpay can offer merchants seamless access to on-chain settlement and tokenised assets, paving the way for new business models and unlocking the full potential of digital assets in everyday commerce," said Ahmed Zifzaf, Head of Crypto Partnerships, Worldpay.

The launch comes as blockchain groups compete to present their networks as practical back-end infrastructure for financial institutions. In that market, large companies are often focused less on public crypto trading than on integration, custody, compliance checks, fiat conversion and settlement.

Solana's strategy is to package those requirements into a single access layer while relying on specialist partners for the underlying services. With the issuance and payments modules available immediately, and early users spanning card payments, merchant acquiring and remittances, settlement and cross-border transfers are likely to be the first areas of testing.

The platform is available in a sandbox built on Solana devnet.