Solana news

Crypto wallet provider Exodus has launched XO Cash, a Solana-based stablecoin and toolkit for AI agents to make payments without managing private keys. Developed with MoonPay, it allows developers to create agent-linked wallets with spending limits and virtual Visa debit cards. Transactions are fee-free and convert payments to USDC or USDT at checkout. The move aligns with a growing trend of crypto and payment companies building AI agent infrastructure. Anchorage Bank, Visa's crypto division, and Amazon Web Services have introduced similar services. The shift toward AI has coincided with layoffs at Coinbase and Block as they restructure around automation.

Jito Foundation and Solana Company have partnered to expand institutional Solana staking infrastructure across the Asia-Pacific region. The collaboration aims to build institutional-grade validator networks, optimize yield, and drive Solana adoption, leveraging Jito's market layer technology and Solana Company's regional expertise. The joint initiative involves setting up Solana validator servers across APAC, anchored by Solana Company's Pacific Backbone network in Hong Kong, Singapore, Japan, and South Korea. The firms will also develop staking products based on JitoSOL for institutional investors. Solana Company holds about $180 million in SOL.

The Solana Foundation and Google Cloud have launched Pay.sh, a pay-as-you-go marketplace enabling AI agents to settle payments in stablecoins on Solana. The platform uses the x402 protocol to replace accounts and subscriptions with per-request API payments, allowing access to services like Gemini, BigQuery, and Vertex AI. Pay.sh extends the x402 standard into a unified registry with Google Cloud and over 50 community API facilitators. Every transaction settles in stablecoins via Solana's network, supporting machine-native commerce. Developers can use the platform with a command line interface compatible with AIs such as Gemini, Claude Code, and Codex.

Forward Industries and RockawayX co-led a $5 million Series A round for OnRe, a startup building reinsurance infrastructure on the Solana blockchain. Forward plans to allocate up to $25 million into the platform's yield-bearing token. OnRe aims to move parts of the reinsurance market onto blockchain using tokenization and smart contracts for underwriting and capital flows. The funding will expand its platform and attract institutional participants to onchain reinsurance. Forward Industries is the largest corporate holder of Solana with over 7.01 million SOL. Its shares rose 5.8% on Tuesday but later gave back most gains. SOL traded at $86.61, up 2.7%.

Drift Protocol, a Solana-based decentralized exchange, has unveiled a recovery plan after losing $295 million in a hack on April 1 attributed to North Korean attackers. The platform will issue recovery tokens to affected wallets, each representing $1 of verified loss. Tether has committed up to $127.5 million to the recovery pool, with strategic partners pledging an additional $20 million. The pool will also receive quarterly exchange revenue, with redemptions starting once the fund exceeds $5 million. Approximately 130,259 ETH (worth $293 million) remains in monitored wallets, with additional funds frozen by Circle and delayed by Wormhole. Drift plans to relaunch in Q2 2026 as a security-focused perps exchange, deploying a new program with rotated keys and timelocks. A bounty program offering 10% of recovered assets has been launched in collaboration with Bybit.

The Solana Foundation and Google Cloud have launched Pay.sh, a service enabling AI agents to autonomously pay for API access using stablecoins on Solana. The gateway supports Google Cloud services like Gemini, BigQuery, and Vertex AI, along with over 50 community API providers, using pay-per-request pricing instead of subscriptions. Pay.sh uses the x402 protocol and the Machine Payments Protocol (MPP). It connects to blockchain providers Helius and Alchemy, and data services from Dune Analytics and Nansen. The launch reflects a broader industry push to build payment infrastructure for autonomous AI systems, with Coinbase, Stripe, and MoonPay also making similar moves.

SoFi Technologies announced it will launch its stablecoin, SoFiUSD, on the Solana blockchain, citing lower costs, faster settlement, and higher throughput. The stablecoin, a fully reserved US dollar token issued by SoFi Bank, was initially deployed on Ethereum in December 2025. The move is part of SoFi's strategy to become a stablecoin infrastructure provider for banks and fintechs. Last month, SoFi expanded its partnership with Mastercard to use SoFiUSD as a settlement currency.

State Street and Galaxy have launched the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP) on Solana, a tokenized fund that allows qualified purchasers to sweep stablecoins into a yield-bearing asset for 24/7 cash management. Plans include expansion to Stellar and Ethereum. The fund uses Galaxy’s tokenization infrastructure, Anchorage as custodian, and Chainlink for NAV and cross-chain messaging, supporting PayPal USD subscriptions and redemptions. Ondo Finance had previously announced it would support the launch with a $200 million investment, but was not mentioned in Tuesday's release. SWEEP joins similar offerings like BlackRock’s BUIDL and Franklin Templeton’s BENJI, investing in U.S. Treasurys. State Street, with $54.5 trillion in assets under custody, has been expanding into digital assets, including tokenized funds and digital-asset custody.

Rapper Iggy Azalea is facing a class action lawsuit in New York federal court over allegations that she misled investors about the utility and development of her Solana-based meme coin, MOTHER. The complaint, filed Tuesday, claims Azalea promoted the token with promises of real-world use cases and commercial integrations that never materialized, leading to investor losses. The token has fallen over 99% from its peak of $0.23 in 2024. The lawsuit highlights specific failed integrations, including a casino called Motherland that used USDT instead of MOTHER, a telecom service with Unreal Mobile that never processed payments in the token, and a marketplace called DreamVault that did not launch as described. It also questions Azalea's disclosed relationships with market makers Wintermute and DWF Labs, alleging investors were not informed how those firms could trade the token or affect prices. Plaintiff Kenneth Kolbrak seeks damages on behalf of investors who lost money. The law firm Burwick Law, which also sued over the Hawk Tuah meme coin, is representing the plaintiffs. Neither Azalea nor Burwick Law have commented on the case.

Solana co-founder Anatoly Yakovenko announced that the network's major upgrade, Alpenglow, could arrive as soon as next quarter. Speaking at Consensus Miami 2026, he described it as an exciting step in Solana's technical evolution, focusing on faster and more predictable transaction confirmations nearing theoretical limits. The upgrade aims to transition Solana from early innovations to a mature phase emphasizing reliability and timing precision, critical for financial applications.