Key Takeaways:
- Bitwise CIO Matt Hougan sees Solana as Wall Street’s preferred blockchain for stablecoins and asset tokenization due to its speed and technical capabilities.
- Despite Solana’s rise, Ethereum still dominates stablecoins, hosting $172.5B in value compared to Solana’s $13.9B.
- Offchain Labs’ AJ Warner argues Ethereum remains the top choice for stablecoin projects, citing its ecosystem and total value locked.
Bitwise Chief Investment Officer Matt Hougan believes Solana is emerging as Wall Street’s preferred blockchain for stablecoins and real-world asset (RWA) tokenization.
Speaking with Solana Foundation’s Akshay BD on October 2, Hougan said traditional finance professionals find Bitcoin “ephemeral” but view stablecoins and tokenization as tangible innovations that could reshape global markets.
Yes it is @solana. Exciting times ahead. https://t.co/pVX1WTGfx4
— Matt Hougan (@Matt_Hougan) October 4, 2025
He noted that stablecoins could reinvent payments, while tokenization could transformstocks, bonds, commodities, and real estate.
Hougan highlighted Solana’s technical advantages, citing its speed, throughput, and transaction finality, which make it attractive for institutional trading.
He mentioned that Solana’s settlement speed improved from 400 microseconds to 150 microseconds – performance that aligns with Wall Street’s expectations for ultra-fast execution.
Despite the optimism, Ethereum remains the dominant network for stablecoins, hosting $172.5 billion in value and commanding roughly 59% of the market – or 65% including its layer-2 networks.
Solana, by comparison, holds $13.9 billion, accounting for 4.7% of the total. Offchain Labs’ CSO AJ Warner acknowledged Solana’s growth but maintained that Ethereum and the EVM ecosystem remain the strongest platforms for launching new stablecoins.
About The Author
Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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