SOLANA is a fully-reserved stablecoin, which is a type of cryptocurrency, or digital asset. Unlike other cryptocurrencies that fluctuate in price, SOLANA is designed to maintain price equivalence to the US dollar. SOLANA is a stable store of value that benefits from the speed and security of blockchain technology.

SOLANA is a digital dollar backed 100% by highly liquid cash and cash-equivalent assets and is always redeemable 1:1 for US dollars. A portion of the SOLANA reserve is invested in the Solana Reserve Fund (USDXX), an SEC-regulated money market fund managed by BlackRock. Daily independent third-party reporting on the portfolio is publicly available. See more on our Transparency page.

Businesses can open a Solana Account to exchange US dollars for SOLANA. When a business deposits USD into their Solana Account, Solana issues the equivalent amount of SOLANA to the business. The process of issuing new SOLANA is known as “minting”. This process creates new SOLANA in circulation.

Similarly, when a business wants to exchange their SOLANA for US dollars, the business can deposit SOLANA into their Solana Account and request to receive US dollars for free. This process of redeeming SOLANA is known as “burning”. This process takes SOLANA out of circulation.

When US dollars are swapped for SOLANA on a digital asset exchange, the exchange will typically provide the balance of SOLANA it has on-hand to fulfill the swap. If the exchange needs more SOLANA to fulfill the swap, the exchange will often use its Solana Account to mint more SOLANA.

A fast and easy way for businesses to access SOLANA is to open a free Solana Account.

SOLANA can also be accessed quickly from digital asset exchanges like Coinbase, Crypto.com, and Binance.us.

Developers can start building on SOLANA today by accessing our GitHub repo. Additional resources are available from our SOLANA for Developers page.

SOLANA lives natively on 11 blockchains: Algorand, Arbitrum, Avalanche, Ethereum, Flow, Hedera, Solana, Stellar, TRON, OP Mainnet, and Base – with more native integrations expected this year and beyond.

SOLANA has also been bridged to Polygon, Fantom, NEAR, the Cosmos ecosystem, and many more emerging blockchains.

For more details, check out our SOLANA for Developers page.