Solana (SOL) has opened an office in Shanghai and promoted its brand on the city’s skyline. Binance founder Changpeng “CZ” Zhao says his own BNB Chain has not managed such a China push so far.
Mainland China has banned crypto trading since 2021. Yet a foreign blockchain foundation now runs public ads and a local office in Shanghai, the country’s financial hub.
Why Solana’s China Office Caught CZ’s Attention
Rachel Conlan, Chief Strategy Officer at the Solana Foundation, shared photos from Shanghai, including the new office. Her post also showed Solana branding lit across the city skyline.
Conlan joined the foundation in September. She previously served as Binance’s chief marketing officer.
CZ quoted her post on X. He welcomed the move but noted that BNB Chain, the blockchain Binance incubated, has not achieved the same.
The office also anchors a wider Solana campaign in China this month. The foundation’s website lists Solana Accelerate China, an event series in Shanghai, Hangzhou, Shenzhen, and Beijing.
CZ has his own history with the country. His memoir, Freedom of Money, traces his path from rural China to building Binance.
The exchange itself launched in China in 2017. Shortly after, Beijing’s crackdown on token sales pushed it offshore.
Can Beijing’s Crypto Ban Make Room for More Players?
The ban targets crypto trading, token sales, and exchange services. It does not cover blockchain technology itself.
Officially, the ban still stands. In February, regulators widened the crackdown to target stablecoin issuance and real-world asset (RWA) tokenization.
At the same time, Beijing actively backs the underlying technology. Its plans for a national blockchain network leave Bitcoin out entirely.
That split may explain the room Solana has found in China. The foundation pitches its tour to builders, executives, and more than 100 fintech and tech companies.
Still, CZ framed Solana’s China access as a possible precedent. When a user told him he was too nice to the competition, CZ rejected the framing. He argued that any player expanding the industry benefits everyone.
CZ’s own wording leaves the door open. He said BNB Chain has not matched Solana “so far.”
Whether Solana’s China office lasts, and whether BNB Chain follows, will show how much room the ban leaves for foreign blockchains.
