The restructuring adviser known for leading Lehman Brothers’ post-bankruptcy wind-down said it has now taken a client payment using the dollar-pegged stablecoin on the Solana network.
Alvarez & Marsal has accepted its first client payment in USDC on Solana, marking a notable step by a global restructuring adviser into blockchain-based settlement. The firm is best known for leading Lehman Brothers’ post-bankruptcy wind down, and the update points to growing use of stablecoins (cryptocurrencies designed to track fiat currencies) for real-world business payments. USDC is a dollar-pegged stablecoin, while Solana is a blockchain network often used for low-cost and fast transaction settlement.