Bitcoin is not enough, let’s switch to Solana this time! Mercurity Fintech Holding (NASDAQ: MFH), a US-listed company, announced that it has signed a $200 million equity loan agreement with a company called Solana Ventures Ltd. to launch a new treasury strategy centered on Solana, including holding coins, staking, node operations, and investing in Solana ecosystem projects.
Mercurity announces $200 million Solana project plan, using equity financing for funding deployment
According to an official announcement, Mercurity Fintech has signed an equity line of credit agreement of up to US$200 million with Solana Ventures Ltd. This financing model allows the company to issue new shares to investors in batches to raise funds according to its own funding needs and market conditions. It is highly flexible and suitable for capital allocation strategies.
This fund will be used to establish a corporate asset pool centered on Solana (SOL), including purchasing and holding a large number of SOL tokens, generating income through staking, operating nodes, participating in DeFi protocols, etc., and further investing in tokenized assets and physical asset platforms in the Solana ecosystem.
Solana Ventures distances itself from the issue: We are not involved in any such financing agreement
Although the Mercurity press release mentioned Solana Ventures Ltd. as a partner, Solana Ventures immediately issued a statement on the X platform to clarify: "We are not involved in any financing agreement with any listed company."
It is not clear whether the "Solana Ventures Ltd." referred to by Mercurity has any connection with Solana officials.
Solana is not a replacement for Bitcoin. MFH executives: The two are "different types of assets"
This is not the first time Mercurity has been involved in crypto treasury strategies. Just a month ago, the company announced plans to raise $800 million to build a long-term Bitcoin reserve vault, a move that was once interpreted as a strategy similar to MicroStrategy.
In fact, Mercurity’s recent strategy is clearly moving towards diversified crypto asset treasury management. Last week, the company announced a $500 million “DeFi Basket” plan, which will invest in Ethereum (ETH), Ripple (XRP), Cardano (ADA) and Binance Coin (BNB) in addition to Solana, aiming to improve on-chain returns and risk hedging capabilities.
The $200 million Solana project announced this time is a core component of this grand strategy.
This article US stock Mercurity Fintech claims to build SOL treasury with Solana Ventures, Solana Ventures denies it first appeared in Chain News ABMedia.
