MemeStrategy snapped up 2,440 Solana tokens, marking Asia’s first public company SOL bet as more firms and ETFs eye the blockchain’s future.
MemeStrategy, a Hong Kong-based digital asset company, has announced the open market purchase of 2,440 units of Solana’s native SOL token.
This makes it the first publicly listed company in Asia to invest in the sixth-largest cryptocurrency by market cap.
According to a company press release, the acquisition was worth approximately $377,000 and was made at an average price of $155 per token. Chairman and CEO Chen Zhancheng described the purchase as a strategic investment in SOL’s future growth. He said:
“The company’s strategic purchase of 2,440 units of Solana reflects our high recognition of the long-term potential of this cryptocurrency. As a leading project in the blockchain field, Solana is widely used in many cutting-edge scenarios such as decentralized platforms, real assets (RWA) tokenization, and AI-driven Web3 applications.”
The transaction was made through OSL Group, a Hong Kong-listed digital asset platform and the first to be licensed by the Securities and Futures Commission. The platform offers trading, custody, and brokerage services under a complete compliance framework.
“We are delighted that MemeStrategy has chosen the OSL platform as its trading and custody partner for digital assets,” said Ryan Miller, Managing Director and Head of Sales at the firm. He explained that the move marks a new chapter for the company as it broadens its focus beyond Bitcoin and Ethereum to other high-potential assets.
The company outlined several goals for the acquisition, including allowing it to participate in Solana’s growing ecosystem of developers, users, and institutions. SOL will also generate returns for the business as it participates in the chain’s proof-of-stake network.
Further, the move is expected to strengthen the company’s asset allocation by adding a utility-focused, high-quality token to its reserves. The press release emphasizes that this will enhance MemeStrategy’s flexibility and long-term growth potential.
Founded by the creators of 9GAG, the firm is Asia’s first listed crypto company. It focuses on building a bridge between traditional finance and the digital economy. This is facilitated through investments across AI, blockchain, and cultural innovation.
The announcement comes as more listed companies begin including SOL in their treasury strategies. Firms such as DeFi Development Corporation, Upexi Inc., Sol Strategies, and Classover have adopted the token as a primary reserve asset.
Meanwhile, major U.S. entities like Grayscale, VanEck, and Franklin Templeton are actively seeking regulatory approval to launch Solana Exchange Traded Funds (ETFs). Bloomberg ETF analyst James Seyffart also recently raised the approval odds for such investment vehicles to 90%.
At the time of writing, SOL was up 6.6% in the last 24 hours, having briefly shot up to $157.35 before settling at just under $156 per data from CoinGecko.
Nonetheless, the uptick hasn’t really pushed the needle across longer time frames, with SOL registering an almost negligible 0.3% rise over the last seven days, and a modest 1.1% increase in the past two weeks. The current price also means the cryptocurrency lost more than 7% of its value over the previous month, while still remaining 6.9% higher than it had been a year ago.
