Hong Kong Adds Solana Company to Strategic Enterprises in Batch of 18 Firms
Key Facts
Solana Company said it had received strategic enterprise status from the Hong Kong government's Office for Attracting Strategic Enterprises as the city welcomed a new batch of 18 enterprises in October 2026. The government welcomed the new enterprises at a signing ceremony as part of a programme to attract companies and investment to the city. Solana Company said in its statement that it was "the only blockchain infrastructure company attracted by the office during 2026", defining its position within this year's government cohort. Its inclusion in the programme coincides with its move to make Hong Kong the headquarters for its Asia-Pacific operations. According to its announcement, the company has already established an office in the city that will serve as a regional headquarters and a base for its executive team. That office presence anchors its regional expansion in Hong Kong, where the company is preparing to add network transaction validation operations as part of its Asian infrastructure plan.
On the government programme, Financial Secretary Paul Chan said the total number of strategic enterprises had reached 142 following the latest additions. He said the enterprises were collectively expected to bring about HK$84 billion in investment, under the programme's estimates announced in October 2026. The programme also projects the creation of about 27,000 jobs through the activities of the enterprises attracted, according to figures announced by Chan. Comparing results with earlier estimates, Chan said investment by enterprises in the previous six batches had exceeded expectations by 30%. He added that the jobs those enterprises had created exceeded expectations by 34%, presenting the results of previous batches alongside projections for all enterprises joining the programme. Solana Company's expansion also follows the implementation of Hong Kong's regulatory regime for stablecoin issuers under the Stablecoins Ordinance on August 1, 2025, according to the city's monetary authority.
On the company's business, its financial results showed revenue of about US$2.5 million in the second quarter of 2026 as implementation of its regional project progressed. Solana Company had reported revenue of US$3.6 million in its first-quarter results for the same year. Second-quarter revenue was therefore below the previous quarter's level during a period in which the company announced operational steps in validation infrastructure. The company also posted a second-quarter net loss of US$30.3 million, according to its quarterly earnings statement. In the same statement, it said it had established its first institutional validator cluster in Tokyo under the "Pacific Backbone" initiative, an operational step preceding the planned expansion in Hong Kong.
The "Pacific Backbone" initiative's rollout begins by connecting Seoul, Tokyo, Singapore and Hong Kong, according to the company's original project announcement. The rollout aims to support staking and validation infrastructure in Asia-Pacific through the cities the company identified as nodes in its regional network. In a parallel development, Solana Company and the Jito Foundation agreed to jointly deploy and operate high-performance Solana validators in the region's markets, according to their partnership announcement. The next operational step in Hong Kong is to establish validator operations in the city under the same initiative, according to the company's announcement accompanying its government designation. On business development, the original roadmap included the company's expectation of launching liquidity-related products and services within 12 to 18 months of the plan's announcement. That timeframe represents Solana Company's stated expectation for expanding the project's services alongside the deployment of validation infrastructure in its target Asian markets.