Solana Company, a Nasdaq-listed digital asset treasury and infrastructure firm trading under the ticker HSDT, has entered into a memorandum of understanding (MOU) with Kazakhstan’s Alatau City to support the development of blockchain infrastructure for the country’s planned technology and digital finance hub.
The agreement was signed during an Alatau City investment roadshow held this month in Shenzhen and Hong Kong, where organizers secured 30 cooperation agreements with a combined potential investment value exceeding $6 billion. Under the MOU, Solana Company will provide advisory services and technical support to help develop blockchain infrastructure and digital asset capabilities for the emerging city.
Alatau City was established under Kazakhstan’s constitutional framework as a special public management organization tasked with accelerating the development of a global center for technology, innovation, and digital finance. The project is intended to position Kazakhstan as a regional leader in emerging technologies while attracting international investment.
Solana Company specializes in digital asset treasury management, institutional staking, validator operations across the Asia-Pacific region, and advisory services for financial institutions adopting blockchain technology. The company focuses on maximizing returns from the Solana ecosystem while connecting public capital markets with blockchain-based financial infrastructure.
Partnership Expands Solana’s Presence in Central Asia
Joseph Onorati, chairman and chief executive officer of Solana Company, indicated that the agreement is expected to strengthen collaboration between the two organizations while expanding the Solana ecosystem’s footprint across Central Asia.
The latest agreement builds on an already expanding relationship between Kazakhstan and the Solana ecosystem. In 2025, Kazakhstan partnered with the Solana Foundation to establish Central Asia’s first Solana Economic Zone in the capital city of Astana. During the same Alatau City roadshow, the Solana Foundation also signed a separate MOU aimed at supporting blockchain education and capacity-building initiatives within the project.
The country’s financial sector has also increased its engagement with Solana-based products. Last week, the Kazakhstan Stock Exchange (KASE) became the first major stock exchange in Central Asia to introduce a Solana exchange-traded fund, marking another step in the country’s broader adoption of blockchain-related financial products.
Focus Includes Digital Assets and Institutional Adoption
The collaboration between Solana Company and Alatau City will focus on four strategic areas: digital asset treasury management, blockchain infrastructure, institutional blockchain adoption, and platform development.
Alisher Abdykadyrov, head of Alatau City, said the partnership would also involve Solana Company in developing the Alatau Crypto Cluster, a designated pilot zone intended to allow digital assets to be used for everyday commercial transactions. The initiative is expected to serve as a testing ground for integrating blockchain-based payments into daily economic activity.
Kazakhstan first introduced the Alatau City megaproject to the international community in May 2024 through President Kassym-Jomart Tokayev. The proposal outlines plans for a technologically advanced smart city featuring low-altitude urban aircraft, autonomous drones, robotaxis, and a hydrogen-powered economy supported by digital technologies.
While the project reflects Kazakhstan’s ambition to become a regional technology and digital finance hub, officials have acknowledged that regulatory and infrastructure challenges remain before the vision can be fully implemented.
Kazakhstan’s central bank and financial regulators have indicated that constitutional amendments may be required to support a broader digital asset-based economic framework. In addition, residents within the proposed Alatau City area continue to face shortages of essential infrastructure, including reliable gas, electricity, water, and internet connectivity. These limitations suggest that the large-scale development of the smart city and its blockchain-powered economy is likely to require substantial long-term investment and phased implementation before reaching its intended objectives.
