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Solana traded at $92.89 at the time of writing, up 1.01% over the week, as the Solana Foundation launched a new API platform for financial institutions. CoinMarketCap data showed SOL swung between March 19 and March 25, dipped toward $85, then recovered above $92.
At the same time, Mastercard, Worldpay, and Western Union joined the Solana Developer Platform, or SDP, for settlement and payment use cases. Will early enterprise adoption of the new platform translate into broader payment activity on Solana?
CoinMarketCap data placed Solana’s market capitalization at $53.15 billion, up 1.41%. Over the same period, 24-hour trading volume fell 2.7% to $4.43 billion. The volume-to-market-cap ratio stood at 8.3%.
The chart showed sharp swings through the week. Solana price fell near $85 before buyers pushed the token higher. It later climbed above $92 and moved toward the $94 area, where earlier resistance appeared.
Meanwhile, circulating supply reached 572.25 million SOL out of a total supply of 623.06 million SOL. The asset also carries no capped maximum supply. That structure remained unchanged as the weekly rebound took shape.
The Solana Foundation launched SDP to let enterprises and financial institutions build and launch financial products on Solana through APIs. The platform combines the APIs of more than 20 Solana infrastructure providers in one place. In turn, firms can access core blockchain services through a single integration layer.
SDP includes three main modules. The issuance module supports tokenized deposits, GENIUS-compliant stablecoins, and tokenized real-world assets. The payments module handles fiat on-ramps, fiat off-ramps, and on-chain stablecoin transfers for B2B, B2C, and P2P activity.
The trading module has not gone live yet. Still, the Solana Foundation said it will support atomic swaps, vaults, and on-chain foreign exchange. The foundation also said it selected infrastructure partners across nodes, wallets, compliance, and ramps to meet institutional needs.
Also Read: Solana Stays at $87–$90 Amid Whale Unlock and ETF Inflows
Mastercard, Worldpay, and Western Union emerged as the first confirmed builders on SDP. Mastercard is using the platform for stablecoin settlement. Worldpay is using it for merchant payments and settlement, while Western Union is using it for cross-border payments.
Raj Dhamodharan, Mastercard’s executive vice president of blockchain and digital assets, said the company is helping enable direct stablecoin settlement for customers on select networks, starting with Solana. Malcolm Clarke, Western Union’s vice president of digital assets, described SDP as an on-chain extension of the company’s fiat and stablecoin operations. Ahmed Zifzaf, Worldpay’s head of crypto partnerships, said merchants can use the platform to access on-chain settlement and tokenized assets.
The platform also works with AI coding tools, including Claude Code by Anthropic and Codex by OpenAI. Separately, Mastercard announced this week that it will acquire stablecoin infrastructure startup BVNK for $1.8 billion to bring digital dollars into its payment network.
Elsewhere, Stripe acquired stablecoin startup Bridge and crypto wallet firm Privy. Earlier this month, Stripe and Tempo launched the Machine Payments Protocol, an open standard for AI agent payments. The protocol already supports stablecoins, cards, and other payment methods, while Visa has contributed card payment specifications.
Solana posted a weekly gain as the asset’s price recovered above $92, while the Solana Developer Platform opened API-based access for institutions.
Mastercard, Worldpay, and Western Union joined with payment and settlement use cases, linking Solana’s market rebound with a broader push into stablecoin and cross-border financial infrastructure.
