The Solana Foundation has bolstered its institutional strategy with the hiring of two former Binance and Polygon executives, signaling a sharper focus on tokenized finance. Rachel Conlan, formerly Binance’s global chief marketing officer, has been appointed chief strategy officer, while Jamal Raees, a Polygon Labs veteran, will lead payments integration. Both appointments underscore Solana’s ambition to attract traditional financial firms by positioning its blockchain as a platform for stablecoin payments, tokenized funds and real-world assets (RWAs).
Conlan’s role will center on institutional partnerships, ecosystem expansion and driving adoption among enterprises. Raees, with prior experience at stablecoin infrastructure firm Bridge (now part of Stripe) and crypto payments provider Wyre, will oversee payments integration, targeting businesses that seek to leverage Solana for cross-border transactions and asset settlement.
The hiring aligns with Solana Foundation President Lily Liu’s “Token Supercycle” thesis, which envisions a long-term shift toward blockchain-based financial infrastructure. Liu argues that as institutions experiment with tokenized securities, stablecoin payments and 24/7 settlement systems, traditional market hours will become less relevant. Solana has already processed over $5 trillion in stablecoin volume this year, according to Allium data, while tokenized assets on the network totaled $4.5 billion, including over $600 million in equities, per Blockworks.
The foundation’s push reflects broader industry trends, as blockchain networks compete to become the backbone of institutional finance. Solana’s strategy now includes making its value proposition clearer, fostering institutional relationships and accelerating the transition from pilot projects to full-scale implementation.
