Solana has the potential to disrupt the traditional financial services market by challenging payment giants Visa and Mastercard. This was stated by the founder of venture capital firm Social Capital Chamat Palihapitiya.

The businessman was prompted by companies’ plans to increase commissions for the processing of credit cards by merchants.

“Visa and Mastercard are doing the stupidest thing they can do. […] At a time of rising inflation. Now the most sensitive, explained.

The actions of payment systems create opportunities for their “ripping” by competitors.

“I looked under the hood of Solana Pay this week. Really interesting. Sooner or later, everyone will start using such a convenient service,” he said. said the billionaire.

Recall that in January 2022, Bank of America predicted to Solana the status of Visa in the world of cryptocurrencies.

Earlier, Sam Bankman-Fried, head of cryptocurrency exchange FTX, said that Solana has a good chance of becoming the next bitcoin.