Solana Ecosystem Roundup: September 2026

A million wallets now hold tokenized stocks on Solana. September brought roughly $4.4 billion in tokenized-stock trading volume, and supply reached $684 million, up 47% over three weeks. On September 17, the SEC issued a five-year order letting tokenized stocks trade in the U.S. on public, permissionless networks, without the venue registering as a stock exchange. Solana has hosted more than half of all tokenized equity volume in 2026.

Payments infrastructure moved closer to banks. Column integrated stablecoins into its banking core, so businesses convert between USDC, USDT and dollars on one ledger alongside ACH, wires, SWIFT and real-time payments. In South Korea, Jeonbuk Bank and Shinhan Bank each completed stablecoin proofs of concept covering currency conversion, settlement, overseas payouts and corporate payments.

September was a month of records across equities, stablecoins, agent payments, and network speed.

September by the numbers

$78.33 billion in DEX volume, up 20% from August’s $65.29 billion
$188.1 million in net inflows into U.S. Solana ETFs during September 21-25
$17.51 billion in stablecoin supply, a new high
$4.6 billion in RWA value, across more than 3,000 available assets
$684 million in tokenized-equity supply, up 47% over three weeks
~$4.4 billion in tokenized-stock trading volume on Solana in September
3.18 billion completed non-vote transactions, up 8.3% from August. The third quarter totaled 8.78 billion, up 23.3% from Q2
1 million cumulative tokenized-stock holder wallets in September
$37.51 billion in stablecoin loan volume in September, accounting for 81.7% of the total across chains

Banking, payments, and stablecoins

Stablecoin supply on Solana hit a record $17.51 billion in September.

Column integrated stablecoins directly into its banking core. Businesses can convert between supported stablecoins and dollars around the clock, with stablecoin balances and bank accounts managed through the same ledger. The platform combines USDC and USDT support on Solana with ACH, domestic wires, SWIFT, and real-time payments.

Open USD, or OUSD, went live natively on Solana on September 30. Issued by Bridge, the stablecoin lets businesses mint and redeem OUSD 1:1 for dollars without minting or redemption fees. Its reserves are held at BlackRock, Lead Bank, and BNY, with monthly attestations. The Solana issuance uses Token-2022 and supports payments, settlement, and treasury operations.

In other stablecoin launches, Supercoin introduced ZARSC, backed by South African rand held in segregated accounts at Absa. Tetra expanded its Canadian dollar stablecoin, CADD, to Solana. Verona launched verUSD, designed for AI agent payments.

Solana recorded 6.2 million USDC-sending addresses around mid-September, representing 42% of sending addresses across networks. Another mid-September snapshot recorded 420 million USDC transactions over a month.

In South Korea, Jeonbuk Bank completed a proof of concept with the Solana Foundation and NodeInfra. The test covered currency conversion, bank escrow, settlement, and overseas payouts, including a foreign-worker wage payment workflow. Shinhan Bank demonstrated corporate stablecoin payments connected to existing corporate banking and foreign-exchange accounts.

Solana Payment Channels launched support for x402 and the Machine Payments Protocol. An agent now receives a spending limit, makes repeated offchain payments against it, and settles the accumulated amount on Solana. The benchmark using 100,000 wallets processed 1 million offchain payments per second.

Solana processed 23.2 million x402 transactions from August 22 through September 19, representing 76% of tracked transactions.

PayAI opened a public preview of batch settlement on September 30. API and AI inference providers can accept repeated USDC payments through channels and submit batches for onchain settlement.

Cloak launched payroll for USDC and USDT. Employers upload a spreadsheet and approve the payroll, with individual salary payments sent through shielded pools.

Solana on-ramp volume on Mercuryo grew 89% during 2026. SOL accounted for 85% of the platform’s U.S. Solana on-ramp volume over that period.

Solana card payments reached $262.7 million in Q3 to date, ~18% above the previous quarter’s full total.

Tokenized assets and institutional DeFi

Tokenized stocks on Solana passed 1 million cumulative holder wallets in September. And the xStocks trading volume on Raydium crossed $1.8 billion, including $494 million in SPYx, $257 million in NVDAx, and $175 million in SPCXx

Kraken introduced xStocks yield vaults with Veda and Sentora for SPYx, QQQx, and NVDAx. Eligible customers access the vaults through Kraken and Kraken Pro, using tokenized exposure to the S&P 500, Nasdaq 100, and NVIDIA.

The strategies bridge xStocks to Solana and deposit them as collateral in Kamino markets. Sentora borrows stablecoins against that collateral and deploys the borrowed funds into yield strategies. Rewards are converted back into the deposited xStock, so an SPYx depositor receives rewards in SPYx.

Galaxy began curating USDC and USDT lending vaults on Kamino. Its responsibilities include setting collateral standards and exposure limits, and monitoring the markets used by each vault.

Jupiter Lend reached $2.41 billion in total deposits on September 22. Across Solana, lending supply reached $5.15 billion in September, up 25% from the start of Q3.

Kamino launched AUTO/wYLDS Fixed Rate Multiply with Hastra and Figure. AUTO is Hastra’s token backed by Figure’s tokenized auto loans. wYLDS is backed 1:1 by reserves of Figure’s yield-bearing YLDS. The product fixes borrowing costs for 30-day terms, with automatic renewal at the prevailing rate when liquidity is available. Kamino originated $10 million in AUTO fixed-rate loans within the first 72 hours.

Midas brought solmFONE to Solana, an investment certificate providing exposure to Fasanara’s asset-backed credit and digital-asset strategy. The token became available as collateral in Kamino markets, including Steakhouse’s USDG High Yield and RockawayX’s RWA USDC markets.

Centrifuge made HYB available on Solana, adding access to an actively managed U.S. high-yield corporate bond strategy managed by New York Life Investment Management.

OnRe reached $300 million in assets under management on September 16 for its onchain reinsurance platform. Huma’s PST crossed $300 million in market capitalization.

Project Harmonia opened applications to connect tokenized funds on Solana with Allfunds’ distribution network. The program accepts operational funds and funds in development, with Particula evaluating submissions. Applications close October 24.

Sunrise and Backpack Securities expanded their tokenized stock listings with Nike, Grindr, DraftKings, Hertz, Sphere Entertainment, Wendy’s, and Krispy Kreme. Further additions included AMD, Firefly Aerospace, and TeraWulf. Tokenized GRND generated $31 million in trading volume during its first 24 hours.

New ETF listings included Global X’s Copper Miners ETF, COPX, and Uranium ETF, URA, plus ProShares’ UltraPro Short QQQ, SQQQ, which targets three times the inverse daily performance of the Nasdaq 100. Backpack also enabled cash-dividend credits for eligible stocks and ETFs.

Meteora enabled token launches to use more than 100 xStocks as quote assets, allowing projects to pair newly launched tokens with supported xStocks.

PreStocks passed 100,000 holder addresses, doubling its count in ten days.

Coinbase’s wrapped Litecoin, cbLTC, and Cardano, cbADA, became available on Solana through Sunrise. The cbADA integration uses Chainlink CCIP.

Tokenized equities on Solana reached ~$4.4 billion in September. xStocks trading on Raydium reached a $160 million daily record. Kamino held $20.7 million in xStocks collateral as of September 13, approximately 3.6 times the tokenized-equity collateral supplied to Euler and Morpho on Ethereum combined.

Doma Frontier opened on Solana through Loopscale. Participants deposit through Loopscale and connect their wallets to earn points toward priority access to new domain extensions.

Metaplex introduced MPL-3643 in limited alpha for permissioned assets and tokenized securities. Built with Token-2022 and Solana Attestation Service, the standard lets issuers configure investor eligibility, transfer restrictions, lockup periods, and jurisdiction requirements.

In U.S. market regulation, the SEC issued a five-year conditional exemption on September 17 for qualifying activity involving tokenized National Market System stocks. The framework includes permissioned automated market makers, with conditions covering trading limits, equivalent shareholder rights, and coordination with the underlying stock’s primary exchange.

Trading and wallet updates

Jupiter launched Universal Deposit, allowing users to deposit supported tokens from Ethereum, Base, Arbitrum, and Sui and receive SOL or USDC on Solana. The deposit flow handles bridging, routing, and swaps. Jupiter also added readable Ledger signing for offchain messages used in limit orders and dollar-cost averaging. Users can review supported order instructions on their hardware wallet before signing.

Phoenix enabled SOL as collateral for perpetual futures, allowing traders to retain SOL collateral while opening positions across crypto, equity, and commodity markets.

Metaplex opened the beta waitlist for Vantage. The terminal lets traders arrange research, token information, market data, and trading tools into custom dashboards, with separate views for markets and portfolio performance.

Fermi introduced its perpetuals exchange on Solana. Sirius began inviting users to a spot and perpetuals trading product designed to keep positions off public feeds while recording trade proofs on Solana.

Solflare Perps surpassed $65 million in cumulative trading volume within its first three weeks. Bulk crossed $500 million in trading volume on its invite-only mainnet, and JTX passed $100 million in cumulative volume.

Pyth became an approved external distributor of Nasdaq Basic. Licensed customers can access real-time U.S. equity quotes and trade data through Pyth’s marketplace.

MoonPay added Sunrise to PayBox, giving eligible users outside the U.S. access to supported tokenized stocks through Claude, ChatGPT, and Grok. Users approve transactions with a passkey or authorize an agent to act within preset limits.

Network updates

Solana activated Transaction V1 on mainnet alongside reduced account rent requirements and a 250-millisecond target slot time. Transaction V1 expands the data a transaction can carry, including support for larger program-deployment writes.

Alpenglow went live on devnet on September 25, opening the consensus upgrade to developer and validator testing ahead of mainnet deployment.

Jito launched BAM preconfirmations with Helius and Triton. The service streams validator commitments to transaction batches before block data arrives through shreds, giving applications an earlier signal of transaction inclusion.

By the last week of September, SOL-holding wallets reached 8.38 million, up 20.5% from the start of Q3. Stablecoin-holding wallets reached 13.07 million, up 16% over the same period.

Consumer apps, AI, and collectibles

Kled V3 launched on September 30 with a personalized task feed for data contributors. Tasks cover photos, video, audio, text, and annotation.

Jupiter introduced a limited-edition Claynosaurz digital Visa card. Jupiter also brought Gacha to mobile, allowing users to open collectible packs within the app.

Decrypt announced the Information Exchange, powered by Myriad and MYR. The product combines news, data, market prices, and probabilities, with a staged rollout toward Breakpoint.

Beezie announced a partnership with The Luxury Closet to tokenize authenticated handbags, watches, jewelry, and accessories on Solana. Plans include selected luxury items for Beezie’s Claw product and a dedicated luxury shopping experience later in 2026. Physical items will remain in vault storage until redeemed or shipped. Beezie also reached $2.2 million in daily volume during the opening week of September.

Phygitals surpassed $500 million in cumulative gross merchandise volume. Collector Crypt recorded an $825,000 Charizard sale.

Nomu introduced Vibe Manufacturing, starting with a workflow for turning text prompts into physical T-shirts. Nomu has done more than $1M in GMV with Solana brands.

Clawpump crossed $200 million in trading volume. UsePaid reached $1.44 million in creator-fee payouts routed to X accounts through X Money.

ZETA holders approved a proposal to bring ZETA and Anuma to Solana, with 99.4% support in the September 20 vote. Anuma, a private AI application with self-custodial wallets, had more than 300,000 existing AI wallets ahead of the planned migration.

On Mallow, the Solana logo advertising auction raised approximately $167,000 for Nepal flood relief.

Wireless networks and machines

Helium launched HeliumOS, software for mobile providers to manage subscribers, billing, provisioning, and Wi-Fi analytics. Affiniti, Noble Mobile, and Helium Mobile were its first customers.

peaq introduced peaq OS on Solana, providing digital identities and wallets for machines, machine NFTs, credit ratings, and service marketplaces. Its Doosan Robotics partnership included the first A-Series robot integrated with the software.

DAWN announced USD.infra, designed to bring infrastructure cash flows into tokenized investments on Solana. The initial focus is connectivity infrastructure, with compute infrastructure planned.

Builders and ecosystem programs

Stocklana opened on September 11 for projects building with tokenized stocks. Submissions closed September 25 with over 600 submissions, with $126,000 in prizes: a $100,000 main pool and $26,000 in bounties.

The Solana Foundation joined the Rust Foundation as a Platinum member.

Solana Scholars opened applications for funded, three-month research internships. PhD researchers work with Solana engineers on consensus, networking, cryptography, and economics. Applications are accepted throughout the year, with onsite and remote participation available.

The Solana Foundation appointed Rachel Conlan and Jamal Raees as Chief Strategy Officer and General Manager of Payments, respectively.

For Breakpoint, Superteam scholarships offered travel, lodging, event tickets, and mentorship; and the Locus travel partnership provided assistance with U.K. visas and electronic travel authorizations. The next wave of Breakpoint 2026 speakers are also out.

October deadlines

October 12: Colosseum World’s Fair. The competition opened September 14. Its Solana track offers $100,000, with $10,000 each for ten teams.

October 12: CLOCK IN. Solana Mobile and Radiants’ mobile hackathon runs from September 8 to October 12. Its $135,000 prize pool includes $125,000 in USDC across ten teams and a separate $10,000 in SKR for integrations.

October 24: Project Harmonia. Applications close for tokenized funds already operating or in development.