Solana’s recent good news is a tech ‘validation,’ says Jupiter’s Ben Chow

The recent news bridges the gap ‘from fundamentals to perceived value,’ says Hubble protocol’s Marius Ciubotariu


Cond Std/Shutterstock modified by Blockworks


If Solana aficionados have been paying any attention to recent Web3 industry headlines, they should feel some pretty good vibes by now. 

Just in the last couple weeks, a series of positive stories have landed for the ecosystem. Shopify plans to integrate with Solana Pay, allowing “millions of entrepreneurs and merchants” to have access to no-fee, Web3-native payments.” Maker is looking into the possibilities of building a new DeFi lending protocol on an appchain using Solana’s SVM. And most recently, Visa is extending USDC settlements to Solana.

Zeta Markets co-founder Tristan Frizza says the good news has been a long time coming. People are “coming around” to the Solana “side of the fence,” he says, adding that it “feels validating.” 

Read more: Shopify enables USDC payments via Solana Pay integration

On the Lightspeed podcast (Spotify/Apple), Frizza says, “everyone’s been putting in this work over the bear market,” he says, “and it’s starting to pay off.”

“People are definitely starting to pay attention.”

Jupiter co-founder Ben Chow feels the most important message that people should recognize from recent events is that people are choosing “the value and the strength of Solana’s tech over the ‘fud’ and the narrative.”

Read more: MakerDAO co-founder floats using Solana’s code to build new chain

Bridging the gap

Chow adds that he expects to see more infrastructure, business-to-business (B2B) and institutional companies considering Solana for applications. “The real pain point of needing speed and cheapness — it trumps everything,” he says.

Chow hopes the shift is a “turning point” where more payments companies choose Solana, along with other “similar use cases.” 

“This is such a powerful proof point for Solana and a validation of how robust the tech is,” he says.

Hubble Protocol founder Marius Ciubotariu argues the recent news “bridges the gap from fundamentals to perceived value.”

“People that work in these companies,” he says, “they’re not going to be influenced by Twitter fud and bag-holders shilling their thesis.”

“They actually have to make business decisions for which they’ll be responsible for in the next three years and their career is built on that,” he says. “They have to make pretty good decisions that are long-term and they’re future proof.”

All the recent advancements are a “validation of what we all knew,” Ciubotariu says, tracing back to efforts to develop Solana tech over the past few years during difficult economic times. After the bad news and despair of “black swans that had to happen,” he feels “it’s up only” from here.

“Shopify and Visa will open up APIs that nobody else was able to create before,” he says. “If you want [developers] to build and to create all sorts of payment APIs,” he explains, “you need APIs from these big companies to, basically, [permit] you to access the systems.”

“This could finally make the vision — that Solana was for payments and for speed — possible.”

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research report - cover graphics (1).jpg


In this report, we dive into crypto private market data to gather insights on where the future of the industry is headed. Despite a notable downturn in private raises, capital continues to infuse promising projects that aim to transform payments, banking, consumer experiences, community, and more, with 2023 being the fourth-largest year for crypto venture capital.


BUZZ holds shares of Coinbase, Robinhood and MicroStrategy


Opinion: Even though I didn’t pay for my “Diamond Hands” burger with BTC, don’t let that fool you into thinking that crypto’s development is futile


The results mark “a major positive inflection point,” one analyst says, as the exchange carries net income momentum into a crypto rally


While the slate of 10 US spot bitcoin funds have tallied $4.6 billion of net inflows thus far, half of the field is lagging the leaders


Trading volumes totalled $154 billion in Q4, including $125 billion in institutional volume


DeFi on Bitcoin is all the rage right now and Stacks is positioned to benefit