SBI Holdings' Crypto Arm B2C2 Ditches Ethereum, Takes the Solana Red Pill and Calls It 'Fundamental Financial Infrastructure'

Japanese banking heavyweight SBI Holdings continues its crypto expansion, with subsidiary B2C2 now routing institutional stablecoin payments through Solana. Yes, you read that right—legacy finance finally discovered what crypto degens have known since 2021: Solana is actually pretty good at this whole "moving money" thing. The banks are late to the party, but at least they're bringing appetizers.

B2C2, the crypto market maker acquired by SBI Holdings back in 2020, will handle large-scale stablecoin transactions for institutional clients via Solana. The platform will support USDC, USDT, PYUSD, USDG, USD1, EURC, and FDUSD—plus "other stablecoins minted on Solana and occasionally backed by B2C2." That's a lot of stablecoins. At this point, Solana has more stablecoins than a bank has board meetings, and apparently they're all welcome at the B2C2 buffet.

"Solana has solidified its position as a fundamental financial infrastructure," said B2C2 Group CEO Thomas Restout. "We support real-world flow here because it delivers what matters to our customers – speed, reliability, and scale. The future of payment processing is moving in this direction." Restout's quote is giving "we definitely didn't explore other options" energy, but sure, Thomas. You're here because Solana is "fundamental infrastructure" and not because your trading desk needed faster settlement during meme coin season.

While Solana still trails Ethereum and Tron in total stablecoin market cap, usage continues climbing. Major institutions have been jumping on the Solana stablecoin train: