Solana's Price Drops 2.992% as Minna Bank Launches Stablecoin Pilot

Solana's latest price was $147.68, down 2.992% in the last 24 hours. Japan’s first fully digital bank, Minna Bank, has launched a pioneering pilot project in collaboration with the Solana blockchain and Fireblocks custody platform. This endeavor marks a significant milestone for Japanese fintech, aiming to bring stablecoin payments into everyday banking. In this pilot, Minna Bank leverages Solana’s high-speed network to test domestic and cross-border payments using a stablecoin pegged to the yen. The goal is to streamline transactions, reducing both time and cost compared to traditional banking rails. Solana’s low fees and fast settlement offer an ideal infrastructure for this experiment. Fireblocks provides a secure custody solution for Minna Bank’s digital assets. The platform uses multi-party computation (MPC) technology to safeguard the private keys and ensure that the stablecoins are held with institutional-grade security. This partnership emphasizes the importance of combining blockchain innovation with robust security protocols. Minna Bank’s pilot represents a strategic push toward modernizing Japan’s financial system. By exploring stablecoin payments, the bank tests the waters for tokenized money and programmable financial services. If successful, this could pave the way for broader adoption of digital currencies in areas like payroll, remittances, and merchant payments.

The recent launch of the xStocks platform enabled Solana to quickly achieve dominance in stock market tokenization. Solana has rapidly become a leader in stock-based real-world assets. The launch of Backed Finance’s xStocks platform helped Solana capture dominance in tokenized stock trading. Notably, data from Dune Analytics shows that since xStocks’ launch on June 30, Solana has accounted for more than 95% of all tokenized stock trading volume. Currently, xStocks offers 60 tokenized assets on its platform, 55 stocks and 5 ETFs. On the first day of trading, xStocks’ volume surpassed $1.3 million, with Strategy’s stocks capturing 30% of that figure. However, stocks and indices like Tesla and the S&P 500 quickly overtook it in trading activity. The $SPYx tokenized stock recorded $4.67 million in daily volume on July 2, representing more than 50% of all trading that day. Still, by July 3, trading volumes had dropped by more than half, indicating that initial trading enthusiasm had cooled. Despite the decline in trading volumes, major users on the platform continued to hold their stock tokens. On July 3, xStocks’ assets under management reached $48.6 million. The leading asset was the $SPYx token, with $6.9 million in AUM. $METAx followed with $4.3 million, and $TSLAx came in third at $3.4 million. The platform also saw significant user adoption, with over 20,000 unique wallets holding tokenized stocks. Among them, the $SPYx token was the most popular, held by more than 10,000 wallets. $TSLAx and $NVDAx followed, with 8,100 and 5,500 holders, respectively. Still, despite this early engagement, liquidity remains low, SolanaFloor cautioned. The platform noted that liquidity will likely be the key factor in determining whether tokenized stock trading on Solana proves viable.

DeFi Development Corp. (DFDV) holds 640,585 Solana tokens in its corporate treasury. The Nasdaq-listed company began accumulating SOL in April 2025. On July 3rd, DFDV purchased 17,760 additional SOL worth $2.72 million. This acquisition expanded its existing holdings. The company’s total Solana reserves now approach $98.1 million, including staking rewards. DFDV plans to stake these tokens long-term using multiple validator platforms. This approach mirrors corporate Bitcoin accumulation strategies but focuses on Solana instead. It provides stock market investors indirect exposure to SOL’s price movements without direct cryptocurrency ownership. Analyst Joseph Parrish notes this reflects a growing corporate trend. Parrish also cautions investors about inherent volatility. He references Solana’s five-year price history. Such fluctuations present measurable risk despite current gains. DFDV’s stock movement demonstrates market response to alternative treasury strategies. Other firms explore similar indirect exposure to cryptocurrencies like XRP and Ethereum. The company’s substantial Solana position represents a distinct corporate experiment unfolding in public markets.

The launch of the REX-Osprey Solana + Staking ETF reflects Anchorage Digital's collaboration as a custodian. Nathan McCauley, CEO of Anchorage, stated that "staking is the next chapter in the crypto ETF story." This event signifies enhanced institutional adoption of digital assets. The ETF’s introduction primarily impacts Solana, evidenced by its 5% price increase. Institutional investors have shown interest, given Anchorage Digital's institutional-grade custody. A $33 million trading volume also suggests strong market confidence. The SEC’s approval under the Investment Company Act of 1940 marks a regulatory milestone, supporting on-chain staking via a publicly traded vehicle. Experts foresee more staking ETFs, potentially affecting other altcoins and DeFi projects. This ETF not only reinforces Solana's market position but also sets the stage for future financial products leveraging on-chain staking. Analysts expect its success to inspire similar offerings for other cryptocurrencies, reflecting a shift towards integrated crypto-financial services.

The launch of exchange-traded funds (ETFs) providing exposure to Solana has generated significant institutional interest, marking a notable advancement in broader market access to the blockchain. This development coincides with increased institutional demand and rising activity across the Solana network itself. Japanese digital bank Minna Bank recently selected the Solana blockchain, alongside infrastructure provider Fireblocks, for a detailed stablecoin use case study. This partnership highlights Solana's growing recognition within the traditional finance sector for real-world financial applications. Solana's ecosystem continues to demonstrate strength, particularly within decentralized finance (DeFi) protocols and non-fungible token (NFT) infrastructure. Its performance relative to other major altcoins is frequently attributed to the expanding adoption and utility found in these core sectors of its network. DeFi Development Corp. substantially increased its exposure to Solana, bringing its total holdings near $100 million. The firm implemented a strategy focused on long-term staking and active participation within the network as a validator, signaling strong confidence in Solana's future prospects. These developments collectively suggest sustained institutional validation and ecosystem growth for Solana. The combination of ETF availability, adoption by established financial entities like Minna Bank, robust DeFi and NFT activity, and significant treasury allocations point towards ongoing integration efforts within wider financial and technological frameworks.