Bullish Commits $2.3 Billion Daily Volume to Solana Stablecoin Infrastructure

Crypto exchange Bullish has announced a strategic collaboration with the Solana Foundation, aiming to integrate Solana-native stablecoins as the core infrastructure for its trading and clearing operations. This partnership, revealed on July 9, 2025, positions Solana as the primary rail for custody, payments, and settlements within Bullish’s ecosystem, signaling a significant move towards merging traditional finance (TradFi) with decentralized finance (DeFi). Bullish, an institutionally focused exchange, processes over $2.3 billion in average daily volume.

Lily Liu, President of the Solana Foundation, articulated the vision behind this move, stating in a recent social media post, > "Solana is global financial infrastructure. Unified rails that serve institutions and retail alike because that's how markets work best - with unified liquidity." She further highlighted Bullish's rationale, noting the exchange's "deep background in tradfi products, sees the future of finance taking place on chain, and wants to build on institution ready rails for the long haul."

The decision to anchor this infrastructure on stablecoins is central to the collaboration. Liu emphasized their critical role, stating, > "stablecoins are the lifeblood of the on chain economy; every trade starts and ends in stablecoins at the end of a cycle. And every payment starts and ends with stablecoins. If you own stablecoins, you own the (on chain) economy." This underscores the growing recognition of stablecoins as essential tools for efficient digital payments and trading, with the total stablecoin market capitalization currently standing at approximately $255.5 billion. Solana's stablecoin market cap is a notable $10.9 billion, placing it among the top three stablecoin blockchains.

This collaboration builds on Solana's increasing institutional adoption, driven by its high performance, speed, and low transaction fees. Tom Farley, CEO of Bullish, affirmed that Solana has "proven itself as rails for next-generation financial infrastructure—fast, efficient, and ready for institutional scale." Bullish, which holds licenses in Hong Kong, Germany, and Gibraltar, is among the most prominent regulated exchanges to migrate core operations to a public blockchain, further validating Solana's capabilities for enterprise-grade solutions. This development aligns with broader industry trends, including recent integrations by Fiserv for cross-border payments and R3 for tokenized securities on Solana.