The Solana Foundation has launched a platform that combines APIs from more than 20 Solana infrastructure providers in one place, making it easier for businesses to build and launch their financial products.
MasterCard, Global payment and Western Union were named as the first manufacturers in the market. SDP. The three companies use the platform differently: Mastercard for stablecoin settlement, Worldpay for merchant payments and settlement, and Western Union for cross-border payments.
What does the Solana development platform do?
The Solana Foundation has launched the Solana Developer Platform (SDP), which allows businesses and financial institutions to build and launch financial products on Solana entirely through APIs.
The three main API modules of the SDP include the issuance module, the payment module module and the trading module.
The issuance module allows users to issue tokenized deposits, GENIUS-compliant stablecoins, or tokenized real-world assets (RWA).
Payment module allows users to convert fiat currency to crypto (on-ramp), convert crypto to fiat currency (exit) and send stablecoin on-chain for B2B, B2C and P2P use cases.
Unlike the issuing and payment modules, the trading module is not yet operational, but it allows financial operations such as atomic swaps, vaults and on-chain exchanges.
Infrastructure partners for SDP were selected based on node infrastructure, wallets, compliance and on-ramps to meet the specific needs of institutions entering the market. The platform also works directly with AI coding platforms like Anthropic’s Claude Code and OpenAI’s Codex.
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Institutional use of the SDP
Three major financial firms are confirmed as early adopters of the platform, each with a distinct use case. Mastercard uses SDP for stablecoin settlement, Worldpay for merchant payments and settlement, and Western Union for cross-border payments.
Raj Dhamodharan, executive vice president of blockchain and digital assets at Mastercard, said the company is helping enable direct settlement of stablecoins for customers on select blockchain networks, starting with Solana.
Malcolm Clarke, Western Union’s vice president of digital assets, described SDP as a modern extension of what Western Union already does, but with an additional on-chain layer for fiat and stablecoin operations.
Ahmed Zifzaf, head of crypto partnerships at Worldpay, said the platform allows merchants to access on-chain settlement and tokenized assets.
Mastercard this week announced the acquisition of stablecoin infrastructure startup BVNK for $1.8 billion to add digital dollars to its payments network. Likewise, Stripe acquired stablecoin startup Bridge and crypto wallet company Privy.
Earlier this month, Stripe and Tempo launched the Machine Payments Protocol (MPP), an open standard that allows AI agents to pay for services like data or computing power without human approval at every step.
It currently works with stablecoins, cards, and other supported payment methods. Visa has already contributed to the protocol by developing specifications allowing agents to pay with credit or debit cards.
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Solana announced on X that it now supports MPP, meaning any developer creating an API that needs to accept payments can manage any stablecoin on Solana through the protocol.