In recent months, Solana has emerged as a popular choice among companies looking to hold cryptocurrency in their reserves. One of the latest entrants is Helius Medical Technologies, which announced plans to use SOL as its primary reserve asset.
Helius Medical Technologies Plan
Helius Medical Technologies, listed on Nasdaq, announced that it is making Solana its primary reserve asset. Through a private placement, Helius raised over $500 million, which will allow the company to focus on building a treasury based on digital assets centered around Solana.
Trend Among Nasdaq Companies
Helius' decision to pivot to Solana aligns with a broader trend among organizations seeking scale and yield in digital assets. Other companies, including Forward Industries and DeFi Development Corp., have already made significant investments in this cryptocurrency.
Prospects of Using Solana
The choice of Solana is driven by the network's high activity and an estimated staking yield of around 7%. Pantera Capital founder Dan Morehead also emphasized that Solana could become the backbone of a new financial system. With increasing interest in Solana, it may soon find its way onto the balance sheets of major corporations.
The rising interest in Solana among Nasdaq firms highlights its growing importance in the financial sector. If this trend continues, Solana could become an integral part of corporate reserves, similar to what Bitcoin has achieved.
