At Solana Breakpoint 2024, many players in the ecosystem and traditional finance made important announcements. What are the key takeaways from these 2 days of conferences?
Solana Breakpoint: what to remember from the 2024 edition?
Following on from Token2049, Singapore hosted Solana Breakpoint 2024during which the players of the Solana (SOL) blockchain took turns making more or less important announcements.
During the first day, it was institutional players who were in the spotlight, with the highlight being the news from Société Générale — Forge, whose euro stablecoin EURCV is arriving on the network.
Another major announcement concerns Citi Bank, whose CIDAP platform arrives on Solanaas presented by Marc Attard, Head of Digital Assets and Customer Engagement:
CIDAP is our technology stack that brings all of this together. It's Citi's integrated digital asset platform. We launched our first product, Citi Token Services for Cash. That's really the ability for our clients to connect to our infrastructure, but also to leverage blockchain, to harness the power of blockchain to be able to move money 24/7 across our entire branch network.
Still on the traditional finance side, it is the asset manager Franklin Templeton which is preparing to launch a monetary fund on Solana:
Franklin Templeton announced that it plans to launch a money market fund on Solana.
Franklin Templeton is a top-20 asset manager by AUM at $1.7 trillion. Its onchain BENJI offering is the second largest tokenized treasury product at $435 million, according to @RWA_xyz
During… pic.twitter.com/UpUm12qGz6
— Solana (@solana) September 20, 2024
👉 Further reading — What is Real World Asset (RWA) tokenization?
Finally, Securitize, the specialist in the tokenization of real-world assets (RWA), is also opening up to Solana to offer its services, all in cooperation with Wormhole to create bridges between the different networks supported by the application.
RealT: Invest in real estate from $50
The big announcements of the 2nd day
For the second day, it was rather players in the ecosystem who made their announcements, and some of them stood out.
First of all, there's Coinbase's cbBTC, which is expanding to Solana soonwhile this wrapped version of BTC is already active on Ethereum (ETH) and Base.
Next, oracle provider Pyth Network unveiled its upcoming update, Oracle Integrity Staking (OIS), which, as the name suggests, will give a premium to PYTH staking with additional rewards for securing the network:
What if you could get rewarded for protecting DeFi?
Enter Oracle Integrity Staking (OIS)—an upgrade to Pyth bringing enhanced data source accountability for a more secure DeFi ecosystem.
OIS brings on-chain staking rewards and slashing mechanisms to the network.
Learn more ⬇️ pic.twitter.com/0rJ58bH3Xa
— Pyth Network 🔮 (@PythNetwork) September 21, 2024
For its part, the BONK memecoin will soon see the arrival of an exchange traded product (ETP) in its name, thanks to a partnership with Osprey Funds and OTC Markets, while Jambo has opened pre-orders for the JamboPhone 2, its new Web3 smartphone.
👉 How to easily buy SOL from Solana?
In addition, the Travala platform, which allows you to book flights and hotels by paying in cryptocurrencies, now offers the ability to pay with USDT and USDC native to the Solana network.
In addition to all these new developments, the SOL is trading at $148.27 at the time of writing, up 1.6% over the last 24 hours.
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Since 2021, I have devoted my free time to seriously training myself on cryptocurrencies in order to acquire as much knowledge and credibility as possible. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyses on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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