Max Resnick, Lead Economist at Anza, recently sparked a conversation on X with a thread highlighting Solana's potential to transform the global securities landscape. In his post, he points out that in 2024, NMS stock transactions exceeded 80 million per day, with 50 million happening on exchanges. According to Resnick, Solana stands out as the only blockchain equipped to manage this massive scale right now.

Why Solana for Securities?

Resnick argues against splitting functions like settlement and trading across different blockchains. He explains that regulators are drawn to on-chain securities precisely because the current system—riddled with dozens of intermediaries—is fragile and inefficient. NMS, or National Market System, refers to the U.S. framework for trading equities, ensuring fair and efficient markets. By consolidating issuance, trading, and settlement on one chain like Solana, we avoid repeating the mistakes of traditional finance.

He envisions a future where the bulk of the $500 trillion global securities market—encompassing stocks, bonds, and other financial instruments—operates entirely on Solana. This means assets issued, traded, and settled in real time, slashing risks and boosting efficiency.

Community Reactions and Broader Implications

The thread drew responses from the crypto community. For instance, Omid Malekan emphasized that true "TradFi on chain" would need to encompass global equities, debt, FX, and derivatives, as blockchains don't recognize borders or asset types. Resnick countered by noting that the U.S. holds 54% of the world's equity market cap, suggesting a step-by-step approach.

Others, like Fishy Catfish, referenced DTCC's Collateral AppChain for T+0 settlement—meaning same-day settlement instead of the traditional T+2 or T+1—hinting at how institutions are already building blockchain solutions. Questions arose about competitors like Base, zkSync, Sui, Aptos, or Sei, but Resnick's focus remains on Solana's proven throughput.

For meme token enthusiasts, this is huge. Solana's high-speed network has already become a hotspot for meme coins, thanks to its low fees and fast transactions. If Solana scales to handle institutional securities, it could supercharge retail trading, including memes, by providing a robust infrastructure that supports millions of daily trades without bottlenecks.

What This Means for Blockchain Practitioners

As blockchain evolves, understanding platforms like Solana is key. Its ability to process vast transaction volumes positions it as a leader in bridging traditional finance and crypto. Whether you're trading meme tokens or exploring DeFi, keeping an eye on these developments can help you stay ahead. For more on Solana's ecosystem and meme token trends, check out our knowledge base at Meme Insider.

Resnick's thread is a reminder that the future of finance might be more unified and efficient than we think. You can read the full discussion here.