- Solana Company expands its digital asset treasury strategy by partnering with Helius and Twinstake for non-custodial staking services.
- The company currently holds about 2.2 million SOL, making it the second largest Solana-based corporate treasury after Forward Industries.
- Agreements give access to platforms for delegating, staking, and restaking digital assets to generate rewards.
- HSDT’s stock rose nearly 10% following the announcement, with increased market attention and trading activity.
- Solana Company shifted its core business from medical devices to operating as a Solana-focused treasury vehicle in late September.
Solana Company (traded as HSDT) has entered new agreements with staking platforms Helius and Twinstake to enhance its digital asset treasury operations, according to an announcement on Thursday. The company aims to strengthen its on-chain strategy and access additional opportunities for delegating, staking, and restaking its digital token holdings.
Solana Company holds approximately 2.2 million SOL, with assets kept in custody at Anchorage Digital Bank. This makes it the second-largest organization with a Solana-based digital asset treasury, behind only Forward Industries, which holds 6.8 million SOL. Under the new partnerships, HSDT can utilize services to earn rewards through staking, which involves locking up tokens to help secure the blockchain network and receive incentives.
Both Helius and Twinstake are among the top 25 validators on Solana by total tokens staked. The agreements give HSDT access to staking, voting with staked tokens, and token activity reporting. “By staking with industry leaders like Helius and Twinstake, we are strengthening the operational backbone of our SOL holdings while contributing to the resilience and decentralization of the Solana ecosystem,” said Joseph Chee, Executive Chairman of Solana Company.
Cosmo Jiang, General Partner at Pantera Capital and Board Observer at HSDT, stated the new relationships allow HSDT to maximize its on-chain yield in accordance with institutional standards. “Partnering with top-tier validators trusted by the broader Solana community reinforces our focus on institutional-grade execution and network alignment,” Jiang said.
HSDT has undergone a significant transition, shifting from its previous focus as Helius Medical Technologies—a medical device maker—to becoming a Solana-centered treasury vehicle. Other companies with significant Solana holdings include VisionSys AI and DeFi Development, which receives backing from Ken Griffin.
Earlier this week, HSDT opened a resale window for private investors, which led to a brief drop in its stock price as previously locked-up shares entered the market. Despite this, the move to expand staking partnerships aligns with the company’s focus on further developing its Solana-based treasury operations. Retail investor sentiment for HSDT recently trended as ‘extremely bullish,’ while sentiment toward the SOL token itself remained ‘bearish’ despite a 2.7% price gain in the previous 24 hours.
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