Solana Company plans to expand its Hong Kong team to 30 peop
On November 6, 2026, Nasdaq-listed Solana Company (HSDT) plans to expand its Hong Kong team from fewer than 10 people to up to 30 to take on tokenization demand from local financial institutions, and will assess the Hong Kong market in about six months; if there is still no large tokenization service provider by then, the company may build its own team. Data from the Hong Kong Securities and Futures Commission show that Hong Kong has approved 17 tokenized retail products, with scale reaching US$1.3 billion.
Event Timeline
- [11-06 12:13] Solana Company plans to expand Hong Kong business, team size intended to increase to 30 (Wu Shuo)
- [11-06 12:30] Hong Kong team planned to expand to 30, Solana Company expands tokenization business (Odaily Planet Daily)
- [11-06 12:52] Solana Company plans to expand Hong Kong team to 30, lays out tokenization business (PANews)
Background and Impact
On November 6, 2026, Wu Shuo, Odaily Planet Daily and PANews reported successively that Nasdaq-listed Solana Company (HSDT) plans to expand its Hong Kong business, intending to increase the local team from currently fewer than 10 people to up to 30. Chairman and CEO Joseph Chee said the expansion is to meet growing asset tokenization demand from local financial institutions, and the company will assess the development of Hong Kong's tokenization market over about the next six months. All three sources mentioned that South China Morning Post was the first media outlet to disclose the news.
In terms of background, Solana Company had previously been recognized as a key enterprise by Hong Kong's Office for Attracting Strategic Enterprises and has set Hong Kong as its Asia-Pacific headquarters, positioning itself as a digital asset infrastructure and service provider; Odaily Planet Daily said the recognition occurred last month. Data disclosed by the Hong Kong Securities and Futures Commission show that Hong Kong currently has approved 17 tokenized retail products, with assets under management reaching US$1.3 billion, up 34% year on year.
Regarding progress in the Hong Kong market, Joseph Chee's judgment is that many large financial institutions in Hong Kong have only just begun to consider or launch tokenization projects, and progress is still slower than in the United States. His proposed response path is: if after about six months there is still no large tokenization service provider locally, the company may form its own team to directly meet bank demand. The three sources are consistent on core facts, but differ in describing the nature of the company: Wu Shuo calls it a "digital asset infrastructure company," while Odaily Planet Daily and PANews call it a "SOL treasury company."
From the perspective of impact, this plan corresponds to the supply gap between institutional tokenization demand and traditional financial infrastructure: on one hand, institutions such as banks have begun launching projects; on the other, it is uncertain whether a large local tokenization service provider can emerge, so the company keeps "