Solana Company plans to expand its Hong Kong operations, targeting tokenization demand in the Asia-Pacific region.

on Nov. 6, according to the South China Morning Post, NASDAQ-listed Solana treasury company Solana Company plans to expand its business presence in Hong Kong by increasing its local team from fewer than 10 to up to 30, and will establish Hong Kong as its new Asia-Pacific headquarters.

Jospeh Chee, Chairman and CEO of the company, stated that the tokenization business at major financial institutions in Hong Kong is still in its early stages, in contrast to the faster-developing US market. The company plans to evaluate progress in the Hong Kong market over the next six months or so, and if large tokenization service providers remain lacking by then, it will consider building its own team to provide related services to local banks.

Last month, Solana Company was designated as a priority enterprise for introduction by the HKSAR government, with its business positioning covering digital asset infrastructure and services.