Major financial institutions Citibank and Franklin Templeton are showing interest in the cryptocurrency Solana (SOL) and its blockchain technologies.
Citibank Explores Solana
According to SolanaFloor, Citibank, the fourth largest bank in the United States, is exploring the potential of the cryptocurrency Solana (SOL). The bank aims to leverage Solana's blockchain technology for seamless money transfers and advanced smart contracts in the future.
New Investment Fund by Franklin Templeton
SolanaFloor also reports that Franklin Templeton plans to launch an investment fund on the Solana blockchain. This announcement was made at the Solana Breakpoint 2024 Conference in Singapore. Franklin Templeton, a global asset manager with $1.5 trillion under management, already has on-chain US government monetary funds (FOBXX) on the Stellar, Polygon, and Arbitrum networks. The firm has previously praised Solana, citing SOL as a strong candidate for the next cryptocurrency ETF.
Solana's Price Surge
In the last 24 hours, Solana has risen by 8% and is trading at $150.4 at the time of writing.
The interest of major financial institutions in Solana (SOL) may indicate its potential capabilities and future prospects in utilizing blockchain technologies in the financial sector.
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