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Japanese banking giant SBI Holdings continues to make significant strides in the cryptocurrency sector.
At this point, SBI’s subsidiary B2C2 chose Solana (SOL) for its institutional stablecoin payments.
B2C2, the cryptocurrency market maker acquired by Japanese financial giant SBI Holdings in 2020, will now primarily route and finalize large-scale stablecoin transactions for its institutional clients through Solana.
B2C2 stated that they will support Solana-based $USDC, USDT, PYUSD, USDG, USD1, EURC, and FDUSD, and “also support other stablecoins mined on Solana and occasionally backed by B2C2.”
B2C2 Group CEO Thomas Restout stated, “Solana has solidified its position as a fundamental financial infrastructure. We support real-world flow here because it delivers what matters to our customers – speed, reliability, and scale. The future of payment processing is moving in this direction.”
Although Solana lags behind Ethereum (ETH) and Tron (TRX) in terms of stablecoin market capitalization, its usage is steadily increasing.
Indeed, many large institutions have begun using Solana for their stablecoin needs. Late last year, Visa started using Solana for $USDC payments for US banks, while Mastercard, PayPal, SoFi, Western Union, and Worldpay also have Solana integration.
B2C2, a key marketplace provider for companies like Robinhood, recently announced partnerships with firms such as Anchorage Digital, Bitget, and Standard Chartered.
*This is not investment advice.
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