Up to 30 Hong Kong staff... Solana Company pushes to expand tokenization business

Solana Company plans to expand its Hong Kong team from fewer than 10 staff to as many as 30 and scale up its tokenization business, with the 30 figure a target ceiling rather than a completed headcount. CEO Joseph Chee told the South China Morning Post that tokenization progress in the U.S. is “much faster,” while many large Hong Kong financial institutions are only now reviewing or beginning tokenization work. The company was named a strategic enterprise last month by the Hong Kong government’s Office for Attracting Strategic Enterprises, and it is using its Hong Kong operations as its Asia-Pacific headquarters for digital asset infrastructure and services. The move matters as a bet that Hong Kong’s institutional tokenization market is poised to catch up with the U.S., and the next thing to watch is how quickly the hiring target and client mandates materialize.