Solana Company has initiated construction on the "Pacific Backbone," a low-latency infrastructure network designed to connect major financial hubs across the Asia-Pacific region. The network will link Seoul, Tokyo, Singapore, and Hong Kong through a high-performance cluster, aiming to reduce response times and improve reliability for operations on the Solana blockchain.
The project's primary goal is to attract institutional investors, including market makers, high-frequency funds, and traditional financial entities exploring digital assets. Services to be offered include staking, validation, and specialized trading tools. According to CEO Joseph Chee, this expansion prepares the ground for Solana's "next super cycle" and seeks to reduce dependence on external providers while meeting regional regulatory requirements.
The first products are expected to be ready within 12 to 18 months, featuring decentralized finance tools, liquid staking solutions, automated market makers, and execution services tailored for traditional firms. Solana currently processes over 3,500 transactions per second and maintains millions of daily active wallets. The company's treasury holds 2.3 million SOL, valued at over $180 million, making it the second-largest corporate holder of the cryptocurrency.
Despite the announcement, Solana Company's shares dropped 13.3% to $1.76 in today's trading session, coinciding with a broader cryptocurrency market downturn where SOL fell nearly 6% and Bitcoin lost over 4% in the last 24 hours.
