TL;DR
- Solana Company is building Pacific Backbone, Asia’s low-latency network.
- Services include staking, validation, and trading tools for traditional enterprises.
- The stock price fell 13% due to widespread weakness in the cryptocurrency market.
Solana announced the start of construction of the Pacific Backbone. Low-latency infrastructure network connecting major financial centers in Asia Pacific. The project aims to provide staking, verification, and trading services on the Solana blockchain, with a clear focus on growing institutional demand.
The network connects Seoul, Tokyo, Singapore, and Hong Kong through high-performance clusters. The company designed this infrastructure to reduce response times and improve the reliability of Solana operations. Direct beneficiaries include market makers, high-frequency funds, and traditional financial institutions that are beginning to explore digital assets.
Plans to attract traditional finance
Solana Company detailed that the project will start immediately with performance optimization tasks. The first products are expected to be ready within 12 to 18 months. The company plans to launch decentralized financial tools, liquid staking solutions, automated market makers, and execution services specifically designed for traditional enterprises.
Mr. Joseph Chee, CEO of Solana Inc. He said this expansion sets the stage for what he calls Solana’s “next supercycle.” The initiative also aims to reduce dependence on external providers and provide a structure that meets the regulatory requirements of the markets in which it operates.
According to company data, Solana currently processes over 3,500 transactions per second and maintains millions of active wallets every day. Solana Company has 2.3 million SOL in the Treasury, worth more than $180 million.becoming the second-largest corporate holder of cryptocurrencies.
Solana’s stock price fell 13.3% on the day to $1.76. The decline occurred amid a broader downturn in the cryptocurrency market. Solana Despite falling nearly 6% in the past 24 hours. Bitcoin Lost more than 4%. The company did not respond to requests for comment at the time of publication.
