Solana has opened an office in Shanghai and placed its brand on the city's skyscrapers. Binance founder Changpeng Zhao (CZ) stated that his BNB Chain has not yet achieved such a presence in China. Mainland China banned cryptocurrency trading in 2021, but a foreign blockchain fund is now conducting public advertising in Shanghai and has a local office.
Solana Foundation's Director of Strategy, Rachel Conlan, posted photos from Shanghai, including the new office and images of the city skyline illuminated with the Solana brand. The post was made on October 14, 2026. Conlan joined the foundation in September, having previously worked as the Chief Marketing Officer at Binance.
CZ quoted her post on October 15. He welcomed the move and noted that BNB Chain, the blockchain incubated by Binance, has "not yet" managed to achieve something similar. He added that he hopes what is good for one industry participant will be beneficial for the others as well. When a user remarked that CZ was being too soft on a competitor, he countered that it is not a competition, and anyone helping to expand the industry benefits the entire sector.
The office became part of a broader Solana campaign in China this month. The foundation's website lists a series of Solana Accelerate China events in Shanghai, Hangzhou, Shenzhen, and Beijing. The foundation is targeting the tour at developers, executives, and more than 100 fintech and technology companies.
CZ has his own history with China: his memoir Freedom of Money describes the journey from a Chinese province to founding Binance. The exchange itself launched in China in 2017, but soon after, tightening regulations on token sales forced it to move abroad.
The ban covers cryptocurrency trading, token sales, and exchange services but does not extend to blockchain technology itself. Officially, it remains in effect: in February, regulators expanded restrictions on stablecoin issuance and real-world asset (RWA) tokenization. This might explain why Solana found room to operate in China.
Whether Solana's office in China will remain and if BNB Chain will follow will show what opportunities the ban leaves for foreign blockchains.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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