The Solana Foundation launched the Solana Developer Platform (SDP) on Tuesday to help businesses and financial institutions build blockchain-based financial products. The new API-based platform is designed for companies that want to use blockchain technology without dealing with the technical complexities on their own.
The SDP brings together tools and infrastructure from across the Solana ecosystem into one system. This allows companies to issue assets, process stablecoin payments, and eventually trade onchain with a single interface in a more organized manner.
At launch, the Solana Foundation said the platform comes with two live modules: issuance and payments. The issuance module helps institutions create tokenized deposits, GENIUS-compliant stablecoins, and tokenized real-world assets.
The payments module supports both fiat and stablecoin transactions. It offers on-ramp and off-ramp services, along with onchain transfers for business-to-business, business-to-consumer, and peer-to-peer payments.
Blockchain infrastructure firm BVNK, that was recently acquired by Mastercard for $1.88 billion, will be providing the infrastructure for Solana’s SDP.
Solana also said a third trading module will be added later this year. It may include features like atomic swaps, vaults, and onchain foreign exchange.
Mastercard, Western Union, and Worldpay join early
The early users show Solana is targeting large financial firms. Mastercard is using SDP for stablecoin settlement, Western Union for cross-border payments, and Worldpay for merchant settlement. Solana said the platform is built to connect traditional finance with blockchain-based payments, not just serve crypto-native companies.
“SDP aggregates the latest protocol features on the Solana network, such as token extensions for permissioning and privacy, and directly connects with Solana’s rich developer ecosystem,” said Catherine Gu, Head of Product, Digital Assets, Solana Foundation.
The platform starts with 11 wallet providers, including custodial firms like Anchorage Digital, BitGo, and Coinbase, along with non-custodial provider Fireblocks. On the compliance side, Solana is working with firms such as Chainalysis, Elliptic, Range, and TRM Labs to support checks related to know-your-customer, know-your-business, and Travel Rule requirements.
For payments, companies including Bridge, BVNK, Lightspark, Modern Treasury, and MoonPay help power fiat-to-crypto connections in the platform’s payments module.
SDP Launches With Built-In AI Coding Support
Another important part of the launch is Solana’s focus on AI tools. The foundation said SDP already works with Claude Code from Anthropic and Codex from OpenAI. This gives companies an easier way to build with AI coding tools. At launch, SDP is available in a sandbox environment on Solana devnet.
“We’re helping enable direct stablecoin settlement for customers on select blockchain networks — beginning with Solana — combining the speed and programmability of blockchain with the reliability, security and global reach of the Mastercard network,” said Raj Dhamodharan, Executive Vice President, Blockchain & Digital Assets, Mastercard, commenting on the development.
Meanwhile, market data showed a muted reaction to the launch. At the time of writing, Solana’s native token SOL was trading at $89.23, marking a 2.37 percent drop over the past 24 hours. Trading volume also slipped 5.31 percent to $4.35 billion.
