Solana Company to Expand Asia-Pacific Tokenization Services From Hong Kong Hub

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Solana Company, a publicly traded firm holding 2.2 million SOL, is expanding its tokenization services with Hong Kong as its Asia-Pacific hub.

Bitcoin.com reported on November 9 that Joseph Chih, Solana Company’s chairman and chief executive officer, told the South China Morning Post that the Asia-Pacific region is “the biggest opportunity for Solana.”

The company currently holds 2.2 million SOL, which it values at about $197 million. It has identified tokenization infrastructure built on the Solana blockchain and related advisory services as its core businesses.

The company chose Hong Kong because of its regulatory environment. Authorities there have already approved 17 tokenized retail products, and assets under management tied to them have climbed to $1.3 billion, up by more than a third from a year earlier. Solana Company has also been designated a strategic enterprise by the Office for Attracting Strategic Enterprises, a Hong Kong government agency.

Chih said most major financial institutions in Hong Kong are only beginning to review or launch tokenization projects. The company expects to gauge demand for its services within six months. If demand is sufficient and no major local competitor emerges, it plans to expand headcount to 30 and offer services to local banks.

Separately, the Hong Kong Monetary Authority has approved HSBC and Anchorpoint to issue Hong Kong dollar stablecoins. Anchorpoint plans to provide token issuance and redemption services on the Solana blockchain.