The project, dubbed Pacific Backbone, will also support Solana staking across countries like South Korea, Japan and Hong Kong.
The Solana Company has announced the launch of a new initiative that seeks to build new infrastructure in the Asian Pacific region to diversify revenue streams and expand SOL presence.
Dubbed Pacific Backbone, the initiative will kickstart immediately, with the company expecting to adapt new technologies and optimize performance in the second half of 2026. It projects that it will launch new SOL liquidity products within the next 18 months.
Trading under the ticker HSDT on Nasdaq, the Solana Company was previously a struggling biotech firm known as Helium Medical Tech. In September last year, it changed the name and direction, raising over $500 million in a private placement to purchase SOL.
Commenting on the latest plans, CEO Joseph Chee stated:
We are building for Solana’s next super cycle. By establishing the Pacific Backbone, we better support our existing ecosystem of developers and partners while accelerating the onboarding of new participants — particularly financial institutions and tech companies in the region. Together, these investments will unlock significant potential for Solana across Asia Pacific and strengthen its connection to global markets.
CNF previously reported that the company recently started allowing institutions to borrow against the SOL they have staked, which gave its stock a massive boost.
Solana Company says it identified a gap in the Asia Pacific region for Solana to tap. The region is home to 60% of global crypto users across countries like India, China, Pakistan and the Philippines, and yet, there’s a big gap in Solana network users, the firm says.
It’s looking to fill this gap. It will start by addressing the needs of high-frequency traders and market makers with a set of small nodes to ensure security and efficiency. In the long term, it will implement state-of-the-art hardware and potentially capture more value through the staking business, it says.
“The reality is, we see an opportunity to improve Solana staking and validation for users across Asia,” says Cosmo Jiang, a general partner at Pantera Capital, the crypto investment firm that spearheaded the company transition from medical technology and was one of its biggest investors.
Beyond the nodes, the company will also offer services such as DeFi, liquid staking, automated market makers and execution services, mainly targeting traditional finance partners in the region.
Jiang added:
There is so much excitement and commitment to crypto across the region. We believe this investment roadmap will be critical for anyone holding and building on Solana and we expect it to diversify our revenue.
The Solana Company currently holds 2.2 million SOL, valued at $176 million at current prices. It’s the second-largest holding by a listed company, with Forward Industries’ 6.91 million tokens the market leader. Forward also pivoted from its traditional business to a SOL digital asset treasury in September and has been accumulating since, as CNF has reported.
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