Solana Shifts Focus to Finance, Says Backpack CEO Armani Ferrante

TLDR

• Solana is transitioning its focus from speculative assets to building real financial infrastructure.
• Backpack CEO Armani Ferrante stated that the ecosystem is now centered on trading, payments, and decentralized finance.
• Ferrante explained that Solana is aiming to become a high-throughput platform for onchain financial markets.
• Institutional interest in blockchain technology is increasing even though retail sentiment remains cautious.
• Ferrante emphasized that real-world adoption requires alignment with regulatory frameworks and legal compliance.

Solana is moving away from its hype-driven image as its ecosystem shifts focus toward serious financial use cases, according to Backpack CEO Armani Ferrante. He stated that the blockchain is being redefined by its role in financial infrastructure and no longer by its connection to NFTs, gaming, or viral tokens.

Solana Embraces Finance-Centered Development

Backpack CEO Armani Ferrante confirmed that Solana’s developers are now focused on building robust financial infrastructure across the ecosystem. He explained that decentralized finance, trading platforms, and payment systems are leading current developments on the network.

“People are really starting to think about blockchains as a new kind of financial infrastructure,” Ferrante told CoinDesk. This marks a clear shift from earlier experiments with NFTs, social tokens, and blockchain-based games.

Solana now supports what many in the industry refer to as “internet capital markets,” with an emphasis on onchain settlement and high-throughput transactions. Ferrante suggested this strategy reflects the network’s growing maturity and real-world ambitions.

Although this phase may seem less flashy, Ferrante indicated it represents a necessary evolution for long-term success in finance. Developers are targeting use cases that align with traditional markets and regulated financial systems.

Institutional Interest Surges Despite Market Lull

While retail sentiment around crypto remains cautious, Ferrante reported growing interest from traditional financial institutions. He noted a surge in momentum behind blockchain-based settlement, tokenized assets, and stablecoins.

“If you ask anyone on Wall Street, they’ve never been more bullish,” Ferrante stated during the interview. He highlighted that institutions are paying attention to compliance-ready, scalable blockchain infrastructure.

He believes Solana is now positioned as a neutral settlement layer where tokenized assets like stocks and derivatives can move seamlessly. The appeal lies in the blockchain’s ability to act as a standardized ledger for asset ownership.

Ferrante emphasized that real-world adoption demands regulatory compatibility, not isolation from existing frameworks. Developers are now aligning their systems with legal clarity and compliance obligations.

This approach signals a move from speculation to utility, with blockchain products designed for serious financial operations. Ferrante views this as a necessary step for Solana to attract long-term, institutional users.

Building Infrastructure Over Hype

Ferrante stated that Solana’s latest strategy prioritizes durable infrastructure over viral growth strategies.

This focus reflects a broader shift in developer priorities toward trading systems, market structure, and real-time asset settlement. According to Ferrante, these components are core to future blockchain applications in traditional markets.

He said the long-term role of blockchains depends on their ability to serve as neutral, compliant platforms for asset exchange. That means designing systems that work within real-world constraints, not avoiding them.

He believes the adoption of that concept requires more structure and less speculation.

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