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Solana divides the crypto universe. It can sometimes outperform Ethereum or Polygon, but also lose ground. Its reputation is also tarnished by the proliferation of unserious memecoins on its network. Yet, the real stakes are deeper. Anthony Scaramucci, financier and founder of SkyBridge Capital, suggests that Solana could soon play a crucial role in global finance. According to him, it is still too early to judge. A revolution is underway.
In Brief
- Solana could reduce financial transaction costs by 7 trillion dollars.
- Its institutional adoption is planned despite persistent regulatory and political hurdles.
- On-chain IPO tokenization broadens market access to the unbanked.
- Solana’s speed and low cost attract major Wall Street players.
Solana could save 7 trillion dollars in fees, challenging Ethereum and Bitcoin
Solana impresses with its technical performance. It offers speed and processing capacity that neither Ethereum nor Bitcoin have yet reached. Anthony Scaramucci points out that the Solana blockchain could become the “main operator for tokenizing real-world assets.” This includes stocks, bonds, and other financial instruments. This innovation paves the way for a colossal reduction in transaction-related costs.
The figure is staggering: 7 trillion dollars are spent every year on transaction verification. According to Scaramucci, Solana could significantly reduce this expense thanks to its speed and low cost. This last detail is crucial in a universe where Ethereum remains the reference but sometimes suffers from high fees.
For Scaramucci, the Solana blockchain acts like a “railway system” on which global financial transactions will soon flow. He does not claim that Solana will immediately defeat Ethereum, but envisions a future where Solana becomes an essential infrastructure.
His upcoming book, Solana Rising, promises to explore these themes. Scaramucci presents the results of his research and interviews with Solana’s co-founders and Wall Street CTOs. This work highlights Solana’s technical advantages and disruptive potential.
Institutional adoption and regulation: Solana facing Ethereum’s challenges
Solana operates in a complex political and regulatory context. Cryptocurrency regulation is being structured under the watchful eye of authorities. Scaramucci reminds us that despite some frictions, Solana’s institutional adoption is inevitable. He cites Jamie Dimon, CEO of JPMorgan, who is cautious but open by allowing his clients increasingly easy access to BTC.
They will offer custodial services and yield strategies with Solana and other Layer 1 tokens.
A. Scaramucci
This gradual adoption marks a difference with Ethereum, which has already crossed certain milestones like Pectra and Fusaka, but still faces technical and regulatory challenges.
The bipartisan work initiated under the Trump administration, he continues, prepares a less partisan framework for crypto regulation. This could accelerate the integration of blockchains like Solana into traditional finance. The on-chain IPO is a key example: it would allow capital raising without banks, simply with a wallet.
The promise is huge: fees reduced from 7% to 0.10-0.20% for a tokenized IPO. Millions of unbanked users could thus access the financial market, a true social revolution.
A robust technical ecosystem
The Solana network hosts a range of innovations that strengthen its position against Ethereum. Its speed is likened to light, according to Scaramucci, with near-instantaneous transactions. The high throughput and minimal costs appeal to Wall Street CTOs.
Solana handles thousands of transactions per second.
- Transaction fees lower than those of Ethereum;
- On-chain IPOs enable fast and low-cost fundraising;
- Staking and token loans to generate yields;
- The price of SOL hovers around $176 (down 3% over 24 hours).
The Solana ecosystem is enriched with diverse projects, despite criticism about memecoins. The technology also enables new financial uses, such as staking, decentralized loans, and yield farming.
The network resembles a financial cloud where different applications coexist. This analogy supports the idea that, even if Ethereum dominates, Solana is a serious competitor well-positioned for growth.
If Bitcoin is the operational layer of money, Solana will be that of real assets.
A. Scaramucci.
Solana is also very adept at diversification. Beyond financial innovations, the network supports the development of dedicated devices, such as blockchain and cryptocurrency-adapted phones. Saga paved the way, soon to be replaced by Seeker, a more powerful and efficient Web3 smartphone.
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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
