- Solana Company’s stock has surged 23% after announcing that it will allow institutions to borrow against their natively staked SOL.
- The SOL will be held in secure custody by Anchorage Digital, but holders will earn staking yield through the Solana lending protocol Kamino.
The Solana Company, a publicly traded firm focused on accumulating and holding SOL, has recorded a 23% surge in its stock price after announcing a new loan product that lets institutions borrow against staked SOL.
The company announced on Friday that it had partnered with crypto infrastructure provider Anchorage Digital and Kamino, a Solana-based DeFi platform, for the new product. Trading on the Nasdaq under the ticker symbol HSDT, the firm believes that the new product will attract institutional capital to Solana’s DeFi ecosystem.
The Solana Company’s stock rallied on the back of the announcement, surging over 20% to hit a weekly high of $2.34. However, it’s still trading below its 2026 high of $3.50, which it hit in mid-January.
Before turning to a Solana treasury firm, the Solana Company was previously known as Helius Medical Technologies, a medical device and neurotech company. However, in September last year, with its stock price on the floor, it rebranded into a SOL treasury firm, raising $500 million in a private offering led by Pantera Capital to purchase SOL.
While its stock has rallied in the past day, it’s still trading way below its previous highs. In the past year alone, it has lost 99.5% of its stock value; in mid-February last year, its stock traded for $449.
The Solana Company’s Crypto Pivot
Under the new partnership, Anchorage Digital will manage the collateral for the staked SOL. The institutional holders of these tokens can stake them on Kamino, allowing them to earn yield and borrow against the tokens. Specifically, the tokens will be held in segregated accounts at Anchorage Digital Bank, which became the first chartered crypto bank in the US in 2021. Anchorage has partnered with dozens of top networks for custodial services, as we have reported.
Cosmo Jiang, a general partner at Pantera and a board member at the Solana Company, commented:
“This structure demonstrates how institutional-grade infrastructure can unlock deeper participation on Solana. It’s a strong example of how regulated custody and on-chain borrowing and lending can work together within the Solana ecosystem. Simply put, we believe this scalable model is the blueprint other treasury companies will follow and institutional investors will demand.”
Anchorage CEO Nathan McCauley added that while institutions want on-chain liquidity, ” they aren’t willing to compromise on custody, compliance, or operational control.” By using the bank’s segregated accounts, they can now secure their SOL while also exploring DeFi.
The Solana Company is among dozens of companies that jumped onto crypto to save their dwindling fortunes. ETHZilla is another one; formerly a biotech firm, it now accumulates Ether and has become a proxy for holding the token. As we reported, it recently launched a new token that gives investors ownership of its leased jet engines.
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