PHILADELPHIA, PA — Solana Company (Nasdaq: HSDT) signed a memorandum of understanding with Alatau City in Kazakhstan to support the planned city’s digital asset and blockchain development, positioning the Philadelphia company for a larger role in Central Asia’s emerging fintech market.
The agreement covers digital asset treasury services, blockchain infrastructure, institutional blockchain adoption and platform development, the company said.
Alatau City is being developed as a technology-focused urban center in Kazakhstan, with an estimated $6 billion investment tied to its development, according to the company.
The memorandum was signed during the Alatau City Roadshow in China, which included events in Hong Kong and Shenzhen and brought together government agencies, investment funds, financial institutions and technology companies.
Solana Company said the partnership is intended to connect local institutions with digital asset networks across the Asia-Pacific region and global markets.
The company provides digital asset treasury, infrastructure and services tied to the Solana ecosystem.
Joseph Chee, chairman and chief executive officer of Solana Company, said the collaboration places the company within Central Asia’s digital asset buildout and could expand the Solana ecosystem’s regional footprint.
Alisher Abdykadyrov, chief executive officer of the Alatau City Authority, said the agreement is tied to the city’s planned “Tokenization by Default” strategy, which seeks to integrate digital assets into the city’s economic infrastructure.
The agreement is nonbinding at this stage, but it gives Solana Company a potential foothold in a government-backed blockchain development project in one of Central Asia’s developing digital asset markets.
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