Solana Network Sees Major Growth with Fiserv and OpenStandard Launches

The Solana network has had a significant week, with several key developments that have contributed to its growth and adoption. One of the major highlights was the launch of Fiserv's digital asset platform, which enabled Roughrider Coin transfers across more than 90 banks and credit unions.

This move marks a significant step towards mainstream adoption, as it brings established finance names onto the same rails as the Solana network. Additionally, OpenStandard's stablecoin, OUSD, was launched, with reserves at BlackRock, Lead Bank, and BNY.

The network has also seen a surge in app revenue, with $365M in Q3, up 42.6% quarter over quarter, marking the tenth straight quarter in the lead. This growth is also reflected in the spot DEX activity, with $197B in Q3, up 16.6% quarter over quarter, the fifth straight quarter in the lead.

The tokenized stock trading on Raydium and Kamino has also reached new heights, with $1.8B in September trading volume on Raydium, and tokenized stocks pledged as collateral exceeded any other chain's by more than 3x.

The Solana network has also seen the launch of several new projects, including Fermi, a on-chain perp DEX with verifiable first-in, first-out order matching, and Sirius Protocol, private spot and perps trading that keeps positions off the public feed.

The price of SOL has remained steady near $120, with a 24-hour volume jump of 41%. However, the circulating supply of SOL is about 93% of the total supply.