Mercurity Fintech’s $200M Solana treasury, backed by Solana Ventures, drives $3.5B valuation, focusing on SOL staking, DeFi, and tokenized assets.
Mercurity Fintech Holding (MFH), which is listed on Nasdaq, has obtained a $200 million equity line of credit from Solana Ventures to implement a Solana treasury strategy. This action positions MFH among the major institutional players, increasing their treasury exposure to Solana.
Mercury Fintech to Establish a Strategic Solana Treasury
The fintech company disclosed its intention to implement a Solana treasury strategy in a press release. The credit agreement will enable MFH to establish a substantial position in SOL, the native token of the Solana blockchain.
Mercury Fintech intends to utilize these assets to generate long-term revenue within the Solana ecosystem by utilizing decentralized finance protocols, validator operations, and staking. Furthermore, MFH will allocate capital to tokenized finance products and real-world asset initiatives constructed on Solana. DeFi Development, which recently became the largest public Solana holder, will be joined by the company.
Wilfred Daye, the Chief Strategy Officer at MFH, stated that the company is establishing itself within Solana’s expanding network to access real-time payments, tokenized assets, and efficient decentralized services. As he emphasized, the decision was primarily driven by Solana’s cost-effectiveness, regulatory traction, and speed.
The fintech company has not provided a specific timeline for the Solana treasury accumulation, but it has confirmed that the capital will be utilized incrementally. The transaction includes MFH in a group of organizations influencing the upcoming phase of institutional crypto engagement, with a particular emphasis on Solana.
The MFH stock is currently trading at approximately $5, and TradingView data indicates that it has increased by more than 2% in response to this announcement. In the past five days, the stock has risen by more than 36% and increased by 35% in the past month.
Institutional interest in Solana is increasing amid a price increase
The price of Solana has increased by 5.46% in the past 24 hours, reaching $191.70 in response to the Solana treasury announcement. Its market capitalization surpassed $100 billion as a result of the rally. Trading volume also experienced a significant increase, rising by 69.44% to $8.69 billion.
ReserveOne, an established digital asset management firm, previously announced a $1 billion SPAC crypto treasury that included Solana and Bitcoin. Kraken and Blockchain.com were among the investors who supported the asset manager’s initiatives.
Sol Strategies, a Solana Treasury firm, applied for Nasdaq listing with the U.S. Securities and Exchange Commission (SEC) last month under the ticker STKE. The announcement resulted in a 4.9% increase in the company’s stock price.
