The Solana ecosystem has announced major partnerships with multiple firms in the Breakpoint event.
Solana’s annual community-driven gathering, Breakpoint, started today. The two-day event has historically brought with it major announcements and unveilings for the Solana network.
For context, the Breakpoint 2023 highlight was the ecosystem’s announcement of the testnet launch of the Firedancer, Solana’s new validator. This development caused SOL to surge by over 80%.
Meanwhile, the Singapore-hosted 2024 Breakpoint got off to a flying start when the Solana ecosystem announced that $1.3 trillion asset manager Franklin Templeton plans to launch a mutual fund on the network.
Solana Floor confirmed the announcement in an X post, marking a significant milestone for the blockchain hosting the fifth largest crypto asset. The fund would allow institutional and retail investors to buy into Solana through the leading asset manager.
Solana Announces Other Partnerships
Furthermore, Solana announced a formidable collaboration with Societe Generale Forge to launch Euro-pegged stablecoin EUR on the Solana network. Societe Generale Forge is a subsidiary of France’s banking giant Societe Generale Bank.
The EUR stablecoin is compliant with the new Markets in Crypto-Assets (MiCA) laws and aims to offer more variety to users of the Solana network. Notably, Solana also annunciated another stablecoin partnership, unveiling the integration of Sky’s (formerly MakerDAO) USDS.
Another interesting announcement is a possible collaboration with the US’s fourth-largest financial firm, Citi Bank. The network teased a future partnership with the financial giant to integrate seamless transactions and advanced smart contracts.
Jupiter Set to Rival Pump.Fun
Meanwhile, Solana-based decentralized exchange Jupiter is set to compete with the famous memecoin deployer Pump.Fun. Jupiter unveiled the Ape Mint protocol, which allows users to create and launch memecoins on the Solana blockchain.
Ape Mint’s trading fee is 0.5%, rivaling Pump.Fun’s 1%. The new protocol supports Google log-ins and can be accessed through mobile phones.
It bears mentioning that Solana has been on an explosive run in the hours leading up to the Breakpoint event. SOL has surged 9% in the past 24 hours to $151 amidst a wider market uptrend.
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