Which Banks & Institutions Use Solana in 2026? Verified List
As of July 2026, 10 verified financial institutions use Solana in production, including BlackRock (tokenized fund issuance on-chain), Franklin Templeton (tokenized money market fund), and PayPal (native PYUSD stablecoin). Solana ranks #3 of 27 assets on TokenSonar's institutional adoption index at 86/100, backed by live spot ETFs and roughly $1.9B in tokenized real-world assets, the second-largest RWA footprint we track after Ethereum.
This page lists every institution TokenSonar has verified, what each one actually does with Solana, and how we separate production adoption from press-release noise. It is updated as our institution registry changes.
The Verified Institution List
| Institution | Type | Role with Solana |
|---|---|---|
| BlackRock | Asset manager | Its BUIDL tokenized money market fund, the flagship institutional on-chain product, issues on Solana alongside Ethereum |
| Franklin Templeton | Asset manager | Runs its tokenized money market fund (Benji platform) on Solana; active spot SOL fund issuer activity |
| Grayscale Investments | Asset manager | Issues a spot Solana ETP and distributes cash payouts from SOL staking rewards to fund holders |
| VanEck | Asset manager | Spot Solana ETP issuer with SOL products across US and European listings |
| 21Shares | Asset manager | Issues Solana exchange-traded products across multiple regulated markets |
| Morgan Stanley | Bank | Offers Solana trading to retail and wealth clients through its E*Trade platform |
| PayPal | Payments | Issues its PYUSD stablecoin natively on Solana for low-cost, high-throughput settlement |
| Stripe | Payments | Supports stablecoin payments and payouts settled on Solana through its crypto rails |
| Visa | Payments network | Settles USDC transactions on Solana as part of its stablecoin settlement pilots |
| Circle Internet Financial | Stablecoin issuer | Issues USDC natively on Solana, the settlement leg for most institutional activity on the network |
Why Payments Companies Lead Here
Solana's institutional profile differs from Bitcoin's and Ethereum's in one important way: its strongest adopters are payment processors, not just fund issuers. PayPal chose Solana as the second home for PYUSD, Stripe routes stablecoin payouts across it, and Visa has settled USDC on the network. That pattern reflects what Solana is being adopted for: cheap, fast settlement at consumer scale. TokenSonar classifies Solana as a Tokenization Rail archetype for exactly this reason, and payment rail tests are one of the strongest forward signals in our scoring, as we covered in Solana's WSOP payment rail analysis.
The Fund Layer: Spot ETFs Are Live
Spot Solana exchange-traded products trade in the US from issuers including Bitwise, Grayscale, VanEck, and 21Shares, with additional listings in Europe and Canada. Each live product means a regulated issuer running SOL custody, audit, and compliance in production. The number of funds and their AUM change frequently, so we maintain the current status of every Solana product on our live ETF tracker rather than freezing a count here.
The Deeper Signal: Tokenized Assets On-Chain
Roughly $1.9B in tokenized real-world assets currently sits on Solana, the second-largest RWA footprint of the 12 chains TokenSonar tracks on-chain. BlackRock's BUIDL and Franklin Templeton's Benji fund both issue there, and Circle's native USDC gives those products a regulated dollar settlement leg on the same network. When the two largest tokenized fund operators in the world both choose to issue on a chain, that is production infrastructure adoption, not marketing.
How TokenSonar Verifies Institutions
An institution makes this list only when its Solana activity is production-grade and publicly attributable: a live regulated fund, an on-chain issuance, a named platform in operation, or a settlement program that has actually processed transactions. Pilots without production follow-through, memoranda of understanding, and unconfirmed press reports are excluded. This is deliberately conservative. It means our count of 10 is lower than lists you will see elsewhere, and it is why the number is worth citing.
The TokenSonar View
Solana holds the #3 rank of 27 tracked assets at 86/100, behind only Ethereum and Bitcoin. Its position rests on three channels at once: live spot ETFs from major issuers, a top-two tokenized asset base, and the broadest payments-company adoption of any chain we track. Scores update twice daily based on regulatory filings, named institutional deployments, ETF flows, and on-chain RWA data, not price action. The full pillar-by-pillar breakdown is on the Solana score page.
Frequently Asked Questions
Do any major financial institutions actually use Solana?
Yes. TokenSonar verifies 10 institutions with production Solana adoption, including asset managers BlackRock, Franklin Templeton, Grayscale, VanEck, and 21Shares, plus payment companies PayPal, Stripe, Visa, and Circle.
Does BlackRock use Solana?
Yes. BlackRock's BUIDL tokenized money market fund, its flagship on-chain product, has expanded issuance to Solana, giving institutional investors tokenized fund exposure directly on the network.
Are there spot Solana ETFs in 2026?
Yes. Spot Solana exchange-traded products are live in the US from issuers including Bitwise, Grayscale, VanEck, and 21Shares, with additional listings in Europe and Canada. Current fund status and AUM are on our ETF tracker.
Does PayPal use Solana?
Yes. PayPal issues its PYUSD stablecoin natively on Solana, choosing the network for low-cost, high-throughput settlement alongside its original Ethereum deployment.
Is Solana institutional adoption growing?
Yes. Solana ranks #3 of 27 assets on TokenSonar's institutional adoption index at 86/100, driven by live spot ETFs, roughly $1.9B in tokenized real-world assets, and payment integrations from PayPal, Stripe, and Visa.