
Is SOL a Currency?
SOL is both a cryptocurrency (Solana) and a national currency (Peruvian sol). Learn the difference and how each is used.
SOL as a Cryptocurrency (Solana)
SOL is the native cryptocurrency of the Solana blockchain, a decentralised platform known for its speed and scalability. It is widely used in the crypto ecosystem for:
Paying transaction fees on the Solana network
Participating in staking to help secure the network
Powering decentralised apps (dApps) and smart contracts
Trading on crypto exchanges (e.g. Binance, Coinbase)
Solana (SOL) is one of the top cryptocurrencies by market capitalisation and is considered a digital asset, not a fiat currency. However, it functions as a medium of exchange within its ecosystem and is sometimes used for payments in crypto-friendly environments.
Sol as a National Currency (Peru)
The Peruvian sol (symbol: S/) is the official currency of Peru.
ISO code: PEN
Managed by: Central Reserve Bank of Peru
Subunit: 1 sol = 100 céntimos
The sol (formerly the nuevo sol) is a recognised fiat currency used across Peru for all goods, services, and legal tender transactions.
Summary
Yes, SOL can refer to a cryptocurrency (Solana) or a national currency (Peruvian sol).
Context matters—digital vs traditional.