MemeStrategy (2440) today announced its acquisition of 2,440 Solana (SOL) tokens on the open market via OSL Group (0863) for HK$2.9 million, a licensed digital asset platform in Hong Kong.
The tokens were purchased at an average price of about HK$1,191. The transaction was funded by internal resources, said MemeStrategy.
As the cryptocurrency market is dominated by Bitcoin, the deal thus made MemeStrategy the first Hong Kong-listed company to invest in the Solana ecosystem.
In its announcement, the company highlighted Solana’s role as a foundational layer for decentralized applications, institutional-grade decentralized finance infrastructure, and Web3 innovation. MemeStrategy also mentioned Solana blockchain which supports a wide range of applications, including DeFi platforms, tokenized real-world assets, and artificial intelligence-powered Web3 solutions, such as viral consumer engagement through memecoins.
MemeStrategy also unveiled its strategic allocation plan of treasury reserves to SOL aims to leverage three key benefits. First, accessing Solana's growing ecosystem of developers and users for Web3 development. Second, earning staking rewards while securing the network. Third, diversifying reserves with this high-potential digital asset.
Ray Chan Chin-ching, chairman and chief executive of MemeStrategy, said: “Solana is a leading blockchain project with wide-ranging applications, from decentralized platforms and real-world asset (RWA) tokenization to AI-driven Web3 solutions. This investment aligns closely with our focus on AI, blockchain, validation technologies, and next-generation tech development, marking a significant step forward in MemeStrategy’s expansion into digital assets and the Web3 ecosystem.”
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