Solana Payment Sector Booms as MoneyGram Partnership Drives On-Chain Activity
Solana has been making significant strides in the payments sector, thanks to its expanding DeFi ecosystem. A recent partnership with MoneyGram, one of the world's largest payments networks, is expected to boost network activity and drive more on-chain transactions. According to Solana's post on X, this strategic partnership will allow the network to leverage its fundamentals and potentially drive even more on-chain activity.
On-chain data shows that Solana has reached a new all-time high of over 171 million daily non-vote transactions, with real-user TPS surging to a new peak of 2,000 transactions per second. This suggests that network activity is already picking up and could continue to grow in the coming months.
The rise in DeFi liquidity on Solana has also been notable, with tokenized supply reaching a new all-time high. Tokenized equities such as Tesla (TSLA) and Circle (CRCL) remain among the largest tokenized assets by supply, according to SolanaFloor. This growth in tokenized assets is adding another layer of activity to Solana's on-chain transactions.
Furthermore, crypto payment cards processed $759 million in July, a 2.5x increase year-over-year. Nearly 9 million purchases were made using stablecoins, highlighting the growing link between blockchain and the payments sector. MoneyGram's partnership with Solana looks like a strategic move to capitalize on this momentum.