Solana Company Plans to Buy Back 5% of Solana Offering Worth Over $6 Billion

• The ex-head of UBS Asia has led the transformation of HSDT into a digital treasury of Solana assets.
• The company has already raised $500m and plans to buy at least 5% of Solana (over $6bn).
• If the required capitalization is achieved, a listing in Hong Kong is planned.

Solana Company plans to buy out 5% of Solana’s total offering of about $6 billion, the firm’s CEO Joseph Chi said in an interview with Chinese media.

Journalists noted that Chee – the former head of the Asian division of investment bank UBS became the new CEO of the American company Helius Medical Technologies (HSDT). In less than a month, he reoriented the company to Digital Asset Treasury (DAT), changed its name to Solana Company and began to build up a reserve in Solana.

Joseph Chee revealed that if it achieves its target market capitalization and meets regulatory requirements, Solana Company plans to list in Hong Kong. This move is likely to take place within six months, the statement said.

It also emphasized that Solana has technical advantages over Ethereum. These include the high speed of transaction processing, as well as the large number of DeFi protocols and stablecoins that Solana utilizes.

As for the management team, Chi said that Solana Company is backed by Xia Yan Capital and Pantera Investment, and is working with Solana Foundation to develop the Asian ecosystem.

We previously reported that Helius raised over $500 million to acquire Solana.