Global banking giant Citi has successfully completed a major financial tokenization test using the Solana blockchain. Despite recent price volatility, the network continues to process approximately three times more daily transactions than Ethereum and its Layer 2 ecosystem combined. Investor confidence remains, with U.S. spot ETFs for Solana’s SOL attracting nearly $9 million in weekly inflows during a period of market decline.
Citi has completed an internal proof-of-concept for tokenizing traditional finance instruments on the Solana blockchain in collaboration with PwC. The test simulated the full lifecycle of tokenized bills of exchange to explore real-world blockchain integration for TradFi.
Recent data from Token Terminal shows Solana handles roughly triple the daily transactions of the entire Ethereum network and its Layer 2s. This high-throughput activity persists even as the asset’s price experiences downward pressure.
According to DeFiLlama, Solana’s total value locked stands at approximately $6.36 billion with substantial decentralized exchange volume. The network also recorded around $1.45 billion in perpetual futures volume, indicating robust user engagement.
U.S. spot ETFs for SOL saw $8.89 million in weekly inflows, bringing total assets to roughly $674 million. These inflows occurred even as SOL’s price fell by 11% over the same period, according to SoSoValue.
Zheng Jie Lim, a research and data engineer at Artemis, encapsulated the network’s ambition, stating, “Solana is number one in users, transactions, developer growth, trading volume, and fees… That’s how Solana becomes the internet capital markets.” The combination of institutional experimentation and sustained investor capital allocation highlights growing long-term conviction.
