What Solana is
Solana is a proof-of-stake blockchain built for high throughput, launched in 2020 by Solana Labs, with the Solana Foundation supporting its open-source development and decentralisation. Validators vote on blocks, and the network reports each one at three levels of commitment: 'processed', 'confirmed' once more than two thirds of the active stake has voted for it, and 'finalized', the strongest.
Tokens on Solana, stablecoins included, are SPL tokens, held in token accounts that belong to a wallet rather than directly at its address. Payment companies, exchanges and consumer apps use Solana for quick transfers, which is why it is one of the chains our custody module supports.
What it does in your platform
Custody & wallets
Gives each customer a Solana address for SOL and the SPL tokens you list, with the token account each token needs, and credits deposits at the commitment level your rules set. Withdrawals are signed under policy and followed until they are final.
How the connection works
The module reads Solana through its JSON-RPC API, from your own node or a node provider such as Infura, Alchemy or QuickNode, and signs through your custody provider or your own keys.
Address and token accounts
The module gives the customer a Solana address. Each SPL token lands in an associated token account, derived from that address and the token's mint.
A transfer arrives
The module reads new blocks for SOL and token transfers to your customers' accounts.
Commitment reached
A deposit counts when its block reaches the commitment your rules set, 'confirmed' or 'finalized'.
Screened and credited
The deposit is screened and credited, and the movement appears in the backoffice.
A withdrawal signed
After limits, screening and approvals, the transaction is signed by your custody provider or your own keys and sent to the network.
Final and reconciled
The module follows the transaction to 'finalized' and reconciles the movement with the chain.
Next to other chains
Solana is not an EVM chain, so it has its own connector, built around token accounts and commitment levels. The policies, approvals, screening and reconciliation are the same as on every other chain in the module.
A stablecoin on Solana and the same stablecoin on Ethereum or Tron are separate tokens. The ledger keeps each as its own currency, identified on Solana by its mint, so balances never mix across chains.
When Solana fits best
A strong fit when
- Your customers use Solana and its tokens, stablecoins among them, for quick transfers.
- You want deposits to reach strong confirmation quickly.
- You list SPL tokens next to SOL, or plan to.
Also worth a look
- An Ethereum layer 2 such as Base or Arbitrum, if your customers and tokens live on EVM chains.
- Tron, if your customers mainly move USDT.
How we get you live
Node access
We connect the module to a dedicated Solana endpoint from a node provider such as Infura, Alchemy or QuickNode, or to your own node.
Custody and tokens
We check that your custody provider supports Solana and each SPL token you list, by its mint address, or set up your own keys.
Commitment rules
We agree with you the commitment a deposit needs before it is credited, 'confirmed' or 'finalized'.
A testnet run
The whole flow runs on Devnet, Solana's public cluster for testing and development, before real funds move.
