Why Companies Are Adding Solana to Corporate Treasuries

TLDR: Companies are adding Solana to their treasuries for strategic alignment and to earn staking rewards. Recent regulatory clarity on digital asset accounting and the push for more explicit stablecoin legislation may encourage further corporate adoption.

Bitcoin integration into corporate balance sheets challenged traditional treasury thinking, signaling digital assets' transition into a legitimate institutional asset class. Several companies are now turning to Solana, a blockchain optimized for speed, scalability, and programmability, as a treasury asset.

Solana operates on a proof-of-stake consensus mechanism, meaning holders can earn a Solana-based yield by staking, or locking up their tokens to help secure the blockchain and validate transactions. Companies adopting Solana gain exposure to reward-generating digital assets, align strategically with emerging blockchain infrastructure, and differentiate themselves in the marketplace.

Companies Betting Big on Solana

Leading this movement is DeFi Development Corp (NASDAQ: DFDV), formerly Janover, which pivoted dramatically after being acquired in April 2025 by former Kraken executives. Under new management, the company rapidly accumulated Solana, becoming the largest publicly traded holder with over 621,313 tokens, valued at nearly $100 million. DeFi Development Corp actively stakes its Solana holdings, generating Solana-based yields, and participates in Solana’s validator infrastructure. Investors have responded positively, driving DFDV shares up by 12% following their treasury announcements. 

Similarly ambitious is Upexi (NASDAQ: UPXI). This firm transitioned from consumer products to digital assets after securing a $100 million private placement led by digital asset trading firm GSR and backed by the Solana Foundation. Upexi’s treasury now holds nearly 597,000 tokens, valued at about $102 million. Their approach combines spot purchases with discounted locked tokens, which enhances their staking returns. Upexi currently generates around 7.9% annualized yield on staked Solana, effectively doubling returns through token lockups averaging 1.4 years. Their "Solana treasury company" branding merges financial strategy and corporate identity, signaling a long-term commitment.

Even smaller firms are joining this trend, notably Torrent Capital Ltd. (TSXV: TORR), which holds approximately 40,000 Solana, valued at about $7 million. Actively staking its holdings, Torrent illustrates that Solana treasury adoption is not exclusive to large corporations but accessible across market caps.

Why Companies Are Choosing Solana

Companies are drawn to Solana for several reasons. As mentioned previously, Solana’s proof-of-stake consensus mechanism allows holders to participate in network consensus to earn a native yield through staking. Solana staking presents an attractive income-generating strategy for treasury managers, enhancing balance sheet efficiency and returns.

Upexi’s locked token strategy demonstrates another advantage: discounted entry points. By acquiring locked Solana at discounts and staking immediately, companies boost returns by acquiring Solana at below-market prices while aligning their treasury with Solana’s anticipated growth.

Strategically, holding Solana aligns companies with a blockchain designed for high-performance, consumer-scale applications, including decentralized finance (DeFi), NFTs, stablecoins, and payments. As blockchain technology sees broader adoption across major economic sectors like banking and finance, corporate treasurers may increasingly recognize the strategic benefits of holding digital assets like Solana.

Additionally, Solana treasury allocations can enhance investor relations. Like past digital asset treasury moves these strategic decisions can elevate media visibility, attract new investor segments, and increase stock liquidity and engagement.

Implementing a Solana Treasury Strategy

Integrating Solana into corporate treasuries requires careful planning, governance, and risk management. Companies must establish formal frameworks for acquisition, custody, staking, and reporting, with clear board approval and transparent internal controls. Staking Solana introduces accounting complexities related to income recognition and fair-value adjustments.

Recent regulatory developments support digital asset adoption. Beginning January 2025, the Financial Accounting Standards Board (FASB) permits fair value accounting for digital assets, simplifying treasury management and financial reporting. This change makes digital asset strategies more practical for corporations.

The current U.S. administration has adopted a supportive stance toward digital assets, introducing clearer stablecoin and market infrastructure regulations. This evolving regulatory landscape reduces perceived risks and encourages corporate adoption.

What to Consider

For companies implementing their treasury strategy, secure custody and compliance remains critical. There are several options to safeguard assets, with third-party custody through a regulated qualified custodian being one of them. While third-party custodians offer distinct benefits for companies, rigorous due diligence is still required.

When considering a custody partner, ensure the custodian provides security protocols that include cold storage, multi-signature wallets, insurance coverage and robust key management systems. Certification, such as SOC-1 and SOC-2, are also crucial to ensure adherence to regulatory standards. 

In addition to regulatory compliance and secure storage, another important consideration is the range of additional services a custodian partner can provide. Leading custodians can also serve as strategic partners in execution through their ability to facilitate asset acquisitions through integrated trading capabilities to meaningfully accelerate a company’s treasury goals.

How BitGo Can Help

As a regulated qualified custodian across 8 international jurisdictions, BitGo offers industry-leading solutions, technology and an extensive track record designed to be a company’s trusted partner in their digital asset treasury journey. BitGo’s infrastructure is also designed to mitigate risk and ensure compliance with $250M in insurance, SOC-1 type 2 and SOC-2 type 2 certifications.

BitGo has partnered with numerous companies to date, including DeFi Development Corp and Uplexi Inc., to facilitate both access and execution in the SOL market. By providing a seamless combination of trading, staking, and qualified custody, BitGo is directly powering the growth of Solana treasuries among companies.

CEO of DeFi Development Corp, Joseph Onorati, notes, “BitGo’s access to locked token markets gives us an efficient way to accumulate discounted SOL and execute on our treasury strategy.”

“Securing our digital assets with a regulated, institutional-grade custodian enhances our risk management framework while enabling us to responsibly capitalize on the opportunities within the crypto economy. This decision aligns with our broader goal of driving sustainable, long-term value for our shareholders,” said Andrew Norstrud, CFO of Upexi Inc.

Unlock Yield and Scale with a Solana Treasury

BitGo isn’t just a passive custodian but an active partner, facilitating both access and execution in the SOL market. By providing a seamless combination of trading, staking, and qualified custody, BitGo is directly powering the growth of Solana treasuries among public companies.

As companies seek scalable, yield-bearing alternatives beyond Bitcoin, Solana’s adoption is becoming increasingly important, shaping corporate treasury strategies across various sectors.

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Ready to explore how Solana can help bolster your balance sheet? Visit BitGo to learn how we can help you build secure, compliant digital asset strategies.