Nasdaq-listed Mercurity Fintech Holding (MFH) has secured a $200 million equity line of credit from Solana Ventures to deploy a Solana treasury strategy. This move places MFH among major institutional players expanding their treasury exposure to Solana.
Mercury Fintech to Launch A Strategic Solana Treasury
In a press release, the fintech company revealed plans to launch a Solana treasury strategy. The credit agreement will allow MFH to accumulate a large position in SOL, the native token of the Solana blockchain.
Mercury Fintech plans to use these assets to generate long-term yield through staking, validator operations, and decentralized finance protocols within the Solana ecosystem. Additionally, MFH will invest in tokenized finance products and real-world asset projects built on Solana. The company will join the likes of DeFi Development, which just became the largest public Solana holder.
According to Wilfred Daye, Chief Strategy Officer at MFH, the company is positioning itself within Solana’s expanding network to access real-time payments, tokenized assets, and efficient decentralized services. He emphasized Solana’s speed, cost-effectiveness, and regulatory traction as key factors behind the move.
The fintech company has not disclosed a specific timeline for the Solana treasury accumulation but confirmed that the capital will be used incrementally. The move adds MFH to a group of firms shaping the next phase of institutional crypto engagement, specifically on Solana.
TradingView data shows that the MFH stock is up over 2% amid this announcement, trading at around $5. The stock is up over 36% in the last five days and 35% in the last month.
Institutional Interest in Solana Grows Amid Price Surge
Solana price rose by 5.46% in the past 24 hours to reach $191.70 amid the Solana treasury announcement. The rally pushed its market capitalization above $100 billion. Trading volume also jumped sharply, increasing by 69.44% to hit $8.69 billion.
Earlier, ReserveOne, an established digital asset management firm, announced plans to launch a $1 billion SPAC crypto treasury that included Solana and Bitcoin. Kraken and Blockchain.com were among the investors that backed the asset manager’s plans.
Last month, a Solana Treasury firm, Sol Strategies, filed for Nasdaq listing with the U.S. SEC under the ticker STKE. The firm’s shares jumped 4.9% upon the announcement.
Paul
Paul Adedoyin is a crypto journalist with 4+ years experience who provides timely news, in-depth research, and insightful content to inform and empower his audience. His works have been featured on sites such as CryptoMode, CryptoNewsFlash among others.
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Source: https://coingape.com/3-5-billion-mercury-fintech-secures-200m-for-solana-treasury/