First Solana Spot ETF Approved, Decentralised Broadband On Solana & More

Welcome back!

This is J264G and this week I’ve got these titbits for you:

• Pioneering ETF: Brazil has greenlit the world’s first Solana spot ETF. 

• Decentralised Broadband: DAWN brings decentralised broadband to Solana. 

• Smart Account Utility: Squads Labs announces the Squads Policy Network. 

Solana's DePIN ecosystem is demonstrating remarkable growth, challenging the misconception that the network's primary utility is limited to memecoin casinos — who would have thought! 😉

Now, let’s jump right into this week’s newsletter!

Click on any underlined heading/hyperlink to learn more.

Spotlight

Crypto Super Apps

Super apps have become essential in many Asian countries, offering all-in-one digital solutions for daily needs — messaging, financial services, e-commerce, ride-hailing, and food delivery.

Mainly, the success of super apps in Asia can be attributed to:

1. A mobile-first population

2. Rapid urbanisation driving demand for convenient services

3. Fragmented financial infrastructure creating a fertile ground for innovation

Key super apps in the region include:

• Indonesia: Gojek (~125 million registered users)

• Philippines: GCash (~94 million registered users)

• South Korea: KakaoTalk (~48 million MAUs)

• Taiwan: LINE (~21 million MAUs)

• Singapore: Grab (~2.3 million MAUs)

These large user bases present a prime opportunity for crypto integration, offering users expanded financial possibilities and providing super apps with additional revenue streams.

Grab in Singapore leads in crypto integration, enabling users to pay various services with Bitcoin, Ether, and USDC. Similarly, GCash in the Philippines offers crypto exposure, but with limited use cases — while most of the other major super apps lag behind in crypto integration.

Granted, Grab's smaller user base in Singapore allows for experimentation. Convincing other super apps to integrate stablecoin payments should, however, be an easy pitch, as it's a robust use case for improving settlement times and reducing transaction costs for both merchants and users.

Am I wrong in thinking that teams on Solana should specifically target super apps to help them integrate crypto rails and services?

I can think of multiple use cases that involve teams such as Phantom, Squads, Sphere, Jupiter, Kamino, and Lulo — a strategic approach here could expand Solana’s reach and drive user adoption in the coming months.

I can’t wait to buy 珍奶 and 芒果冰 with USDC on LINE in Taiwan — so let’s get cooking!

Chart Of The Week

News Bites

Smart Account Utility: Squads Labs has unveiled plans for the Squads Policy Network (SPN) — powered by Jito Restaking. The SPN aims to equip Squads Protocol i.e. smart account platforms with granular and sophisticated policies typically found in centralised custody solutions — encouraging more institutions and enterprises to manage and secure their assets onchain.

Decentralised Broadband: DAWN has secured $18 million in funding to develop the first DePIN protocol to offer affordable, decentralised broadband with multi-gigabit wireless technology on Solana.

Pioneering ETF: Brazil's Securities and Exchange Commission has greenlit a Solana spot ETF created by QR Asset and managed by Vortx. Should the Brazilian stock exchange wave it through, this would be the first Solana spot EFT in the world.

Institutional Expansion: Anchorage Digital, the only federally chartered crypto bank in the US, now offers custody support for SPL tokens to its institutional clients — venture capital firms, hedge funds, and more.

Crypto Global: Just recently, Solana SIM went live. Every Solana SIM card number acts as a unique decentralised ID, providing users with a robust key to control their accounts (𝕏, Telegram, wallets, and more) and reliable mobile access to crypto services on the go. 

Caught In 4K

Weekly Take

Keks & Giggles

And that's a wrap!

If you'd like to reach me, respond to this newsletter or reach out to me on 𝕏.

Talk soon!

J264G

_{DISCLAIMER
None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. Lastly, please be advised that we discuss products and services from our partners from which our team members may hold tokens/equity.}