SBI Holdings, a prominent player in the Japanese banking industry, is making notable advancements within the cryptocurrency landscape.
Currently, its subsidiary B2C2 has opted for Solana (SOL) as the platform for processing institutional stablecoin payments.
B2C2, which was acquired by SBI Holdings in 2020 and serves as a market maker in the crypto sector, will now facilitate and complete substantial stablecoin transactions for its institutional clientele using Solana’s network.
The firm announced that it will support various Solana-based stablecoins including $USDC, USDT, PYUSD, USDG, USD1, EURC, and FDUSD. Additionally, they plan to accommodate other stablecoins developed on Solana that may be occasionally backed by B2C2.
According to Thomas Restout, CEO of B2C2 Group: “Solana has established itself as an essential component of financial infrastructure. We are committed to facilitating real-world transactions here because it provides our clients with what truly matters – speediness, dependability and scalability. The evolution of payment processing is heading this way.”
While Solana currently trails behind Ethereum (ETH) and Tron (TRX) regarding market capitalization of stablecoins, its adoption continues to grow steadily.
In fact, numerous large institutions have started leveraging Solana for their requirements related to stablecoins. Towards the end of last year, Visa began utilizing Solana for $USDC transactions involving U.S. banks; similarly Mastercard alongside PayPal , SoFi , Western Union , and Worldpay have also integrated with Solana’s ecosystem.
B2C2 stands out as a crucial marketplace provider collaborating with companies like Robinhood while recently forming partnerships with entities such as Anchorage Digital , Bitget , and Standard Chartered .
*This information should not be construed as investment advice.