CoinDesk
The Solana Foundation has appointed former Binance marketing chief Rachel Conlan as chief strategy officer and Polygon Labs veteran Jamal Raees as general manager for payments, adding two high-profile industry operators as the network pushes deeper into institutional finance and tokenized assets.
Conlan spent three years at Binance, most recently as global chief marketing officer, before leaving in June. She will lead institutional partnerships and ecosystem growth. Raees arrives from Polygon Labs and previously worked at stablecoin infrastructure firm Bridge, now part of Stripe, and payments firm Wyre. He will focus on getting payments companies and other businesses to settle on Solana.
Why it matters
The hires slot directly into President Lily Liu's "Token Supercycle" thesis, the argument that money, assets and ownership are migrating onto always-on blockchain infrastructure. Conlan's remit is the institutional bridge: bringing the regulated finance firms that have been experimenting with stablecoins and tokenized funds onto Solana proper. Raees' payments background, built across Polygon and Bridge, targets the same cohort from the settlement-rail side. Both signal Solana is no longer positioning itself as a high-throughput trading chain. It is rebuilding the pitch around payments, tokenized funds and onchain equities for a non-crypto-native audience.
Market impact
The chain has already absorbed scale worth underwriting the new pitch. Allium data shows Solana has processed more than $5 trillion in stablecoin volume so far this year, while tokenized assets on the network reached $4.5 billion according to RWA.xyz, including more than $600 million in tokenized stocks per Blockworks data. The personnel moves extend the strategy rather than restart it. For SOL, the read is less about a near-term price catalyst and more about whether Solana can convert that throughput into sticky institutional relationships before competing L1s close the gap.
Frequently asked questions
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Who did the Solana Foundation just hire?
Rachel Conlan, formerly Binance's global chief marketing officer, joined as chief strategy officer. Jamal Raees, formerly of Polygon Labs, Bridge and Wyre, joined as general manager for payments.
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Why is Solana hiring executives from Binance and Polygon?
The hires support President Lily Liu's "Token Supercycle" thesis, positioning Solana as infrastructure for institutional finance, stablecoin payments, tokenized funds and onchain equities rather than primarily a retail trading chain.
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How much stablecoin volume has Solana processed this year?
According to Allium data cited in the announcement coverage, Solana has processed more than $5 trillion in stablecoin volume so far in 2025.
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How large is the tokenized asset market on Solana?
RWA.xyz data puts tokenized assets on Solana at $4.5 billion, including more than $600 million in tokenized stocks per Blockworks.
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What does this mean for SOL price?
The near-term read is more about institutional positioning than a direct price catalyst. Long-term, the value depends on whether Solana converts existing throughput into durable institutional relationships before competing chains close the gap.
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