‘It's So Early': How Solana Is Competing With Ethereum for Institutional Interest [Yahoo! Finance]
The Bank of New York Mellon Corporation (BK)
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Source: Yahoo! Finance
While Solana is newer than Ethereum, it doesn't face the same challenges when it comes to transaction throughput and cheap fees. It would be easy for a casual observer to think that the Solana network is for memecoins and Ethereum for financial institutions. While BlackRock CEO Larry Fink has preached the gospel of tokenization on Ethereum — his firm even launching a tokenized fund , BUIDL, on that blockchain — Solana has often made headlines this year thanks to the success of pump.fun , a protocol that allows users to create memecoins in minutes. That, however, doesn't mean Ethereum has a monopoly on institutional interest, according to Hadley Stern, chief commercial officer at Marinade Finance, a Solana-based DeFi protocol that provides staking services for that blockchain's {{SOL}} token. “On the institutional side, it's so early,” Stern, who was the founding president of Fidelity Digital Assets and global head of digital asset custody at BNY Mellon, told CoinDesk in an in
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